- LTC coin chart shows a golden crossover of the 50 and 200-day EMA
- The LTC/BTC pair was trading at 0.004329 BTC with a loss of 1.87%
- The current price of the LTC coin is $221, with an intraday loss of 4.44%
On 3rd September, the LTC coin provided a breakout from the crucial level of $210, offering its trader an excellent opportunity to go long. After spending one day to test this level for valid support, the went boom with 10% on its next day. The next crucial resistance for this coin is at the $245 mark.
Concerning the EMAs, the COMP token went through a minor consolidation phase before continuing its rally; this little break has caused the crucial EMAs 20, 50, 100, 200 to be drawn too close together, making it challenging to trade any signal. Thus, to avoid confusion, COMP traders can restrict EMA’s only to 50 and 200 EMA in order to identify the primary trend within this token.
The RSI (BULLISH) value is 71, indicating a bullish sentiment in the LTC coin as the RSI line is steadily marching towards the overbought zone.
The LTC Coin Crypto Chart In The 4hr Time Frame
The LTC coin indicates the price could be preparing for a minor pullback before continuing with its rally. If that happens, the $210 support would be a crucial level for the long trader, saving from being in the wrong trade. Moreover, the traditional pivot levels provide remarkable confluence with the chart’s SR level providing more confirmation for LTC traders.
The MACD indicators (BULLISH), which show MACD and signal moving higher than the neutral area(0.00), indicate strong bullish momentum in the coin. However, the indicator also shows a bearish crossover of these lines, projecting a sell signal.
Conclusion: From the technical perspective, the LTC coin presents a great bullish outlook concerning its price action and indicators, And as mentioned above, the coin’s price has provided a great long opportunity for its traders with the breakout from the $210 resistance level. Thus, if the price manages to sustain above this level, the long traders can expect a nearest target till the $245 mark