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Medium-term trend in the LTC / USD price: bullish
Offer levels: $ 29, $ 32, $ 35
Demand level: $ 25, $ 22, $ 18,
In the 4-hour chart, the LTC price is bullish. The cryptocurrency reached the minimum level of $ 22 at the December 7 level, after which it entered a range-bound movement between the demand levels of $ 25 and $ 22. The sideways movement continued until December 15th. The first Japanese candle on the market's opening in the 4-hour ranking yesterday was a strong bullish candle that broke the previous level of supply. It consolidated for a few hours above the broken level.
Today, the formation of strong bullish candles indicates that the bulls have resumed the LTC market with an increase in momentum that has broken the bid level of $ 29 on the upside. The 21-day EMA is going through the 50-day EMA rise along with the LTC price above the two EMA, an indication that the trend is changing upwards. The Relative Strength Index is higher than 75 levels pointing to the north indicates a strong buy signal and a high momentum of bulls.
Short-term trend in the LTC / USD price: bullish
On the short-term trend, the LTC price is bullish. The strong and massive bullish candle formed yesterday brought out the currency from the consolidation zone. The candle broke and closed above the previous bid level of $ 25 after which the new test for the uptrend was carried out. The bulls had full control of the LTC market as now. Today, the price of the LTC is rising with the emergence of new bullish candles that broke the $ 29 price hike.
The 21-day EMA went through the 50-day EMA which connotes the trend in an upward trend. The price is currently higher than the two EMA and with a distance from the EMA indicates that the upward pressure is rising. The relative strength index period 14 is higher than 75 levels pointing to the north, which indicates that there is a strong bullish momentum and buys a signal.
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