- LTC coin chart shows that the 20 and 50 EMAs are close to providing a bullish crossover in the daily timeline
- The LTC/BTC pair was trading at 0.003476 BTC with a loss of 2.16%
- The 24 hr trading volume in LTC coins is $1.7 billion
The bull rally is charging strongly in the LTC coin as the price keeps knocking out new resistance one after another. Thus, On the 7th of August, the price showed another breakout from the crucial resistance of $148. After providing a good retest on the next day, the price continued with a green lower price rejection candle showing the sustainability of the price above this level.
As per the EMA lines, the LTC coin is still in a bearish trend as the price is trading below the critical EMA 100 and 200. However, the bull rally has managed to reclaim the 20 and 50 EMA’s, which are also on the verge of giving a bullish crossover, which could attract even more buyers in the coin market.
The RSI (BULLISH) value is 63, indicating a bullish sentiment in the LTC coin.
LTC Coin Respects Its New Ascending Trendline
The LTC coin shows a new ascending trendline carrying the bullish rally in the 4hr time frame chart. The price has already respected its level twice, and LTC traders can expect more good work from this trendline until it remains intact.
The MACD indicators (BULLISH) show that both MACD and signal are moving above the neutral zone(0.00), indicating strong bullish momentum in the coin. Moreover, the indicator also shows these lines will soon provide a bullish crossover, providing more confirmation to the LTC traders.
Conclusion: From the technical perspective, the LTC coin has shown a remarkable recovery after the price bounced from the $105 support. Moreover, as the price rises higher, it has relieved another long opportunity for LTC traders as the price after giving a breakout from the $148 resistance. The nearest target for this breakout is at $160 and the $180 mark after that.