LTCUSD price is moving in a steady solid and serious channel with the lower line and upper line already touched several times which are good support and resistance levels.
LTCUSD Price Analysis: 4 Hr Chart
LTCUSDhas shown some good volume and momentum this can indicate another touch of the higher line before showing more action in the levels. For now, LTCUSDis trading below the 55 and 20 EMA which is more bearish but when LTCUSDcomes above the EMAs it can confirm to bullish.
RSI bounced at the oversold condition which can show an increase the next times to higher levels. Furthermore, the MACD
showed a bullish crossover which can show in a price increase.
The outcome of the channel will be indispensable and show the final direction.
EXPECTATION: Test of channel higher line
TREND AFTER EXPECTATION: Confirmation either bullish or bearish
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at firstname.lastname@example.org