Litecoin Tests Resistance

LTCUSD CHART PRICE – LTCUSD DAILY

LTCUSD tested the resistance identified at 59.21, it is still early to know if there could be a breakout, however some conditions are set for the price to continue its uptrend, first we have the Relative Strength Index at 61% which is not overbought yet, it has been oscillating between 67 and 60 for the last 9 trading days, the price currently trades above the Ichimoku cloud which is another indicator that an uptrend could continue, although the bollinger bands are getting narrower, they are still very wide, so there is not a very strong chance of a trend change but we can expect volatility, the moving averages are moving up fast, indicating an uptrend as well, the thing is that can never tell what’s gonna happen with cryptos, but Litecoin has remain relatively steady in the last week.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.