LTC/USD bounces back, further jump only above 200-day MA
LTC/USD has taken support near 21-day MA and rebounded from that level. It is hovering around 200-day MA at 3.78 levels at the time of writing (BTC-e). Ichimoku analysis of daily chart: Tenkan Sen: 3.78 Kijun Sen: 3.76 T…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
LTC/USD has taken support near 21-day MA and rebounded from that level. It is hovering around 200-day MA at 3.78 levels at the time of writing (BTC-e).
Ichimoku analysis of daily chart:
Tenkan Sen: 3.78
Kijun Sen: 3.76
Trend reversal: 3.91 (90 EMA)
The pair should close above 3.78 (200-day MA) for further upside. A consistent move upwards above this level would face resistance at 3.91 (90 EMA) and then 4.15 (100-day MA). On the other hand, support is likely to be found at 3.69 (21-day MA) and a break below would see the pair falling to 3.50 (psychological level) and then 3.22 (August 02 low).
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