LTC/USD heads north, break above 4.01 confirms further bullishness
LTC/USD continued its upward trend on Thursday seen from the past couple of days and is currently hovering around 55 EMA at 3.84 levels (BTC-e). Ichimoku analysis of daily chart: Tenkan Sen: 3.82 Kijun Sen: 3.77 Trend re…
By Shampa Mani
Updated 1 min read
Image from the original EconoTimes article
LTC/USD continued its upward trend on Thursday seen from the past couple of days and is currently hovering around 55 EMA at 3.84 levels (BTC-e).
Ichimoku analysis of daily chart:
Tenkan Sen: 3.82
Kijun Sen: 3.77
Trend reversal: 3.90 (90 EMA)
“After closing above 200-day MA on Wednesday, the pair moved further north today. LTC/USD should break above the temporary high of 4.01 levels seen on August 23 for further upside”, FxWirePro said in a statement.
The pair faces major resistance at 3.90 (90 EMA) and a break above would see the pair testing 4.00 (August 23 high)/4.19 (161.8% retracement of 4.01 and 3.71)/ 4.53 (July 02 high).
On the reverse side, support is seen at 3.79 (200-day MA) and a break below would target 3.70 (21-day MA)/3.50 (psychological level).
