LTC/USD Medium-term Trend: Bullish
Resistance Levels: $90, $91, $92
Support Levels:$85, $84, $83
Yesterday, June 2, price of Litecoin was in a sideways trend. Today, the cryptoasset is now in a bullish trend. The cryptoasset had a breakout at the $80 price level which led to the high of $85.66. From the 4-hour chart, a bullish trend line is drawn showing the support levels of price. Traders should take a long trade if price retraces and touches the trend line. Then you place a stop loss below the trend line.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars of Litecoin is above 12-day EMA and the 26-day EMA which indicates that the bullish trend is continuing. Nevertheless, the relative strength index period 14 is level 51 which indicates that price of Litecoin is in the sideways trend zone.
LTC/USD Short-term Trend: Bullish
On the 1-hour chart, the price of Litecoin is in a bullish trend. The price bars of Litecoin is above 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. In the lower time frame, the MACD line and the signal line are above the zero line which indicates a buy signal.
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