• LTC coin chart shows a bullish crossover of the 20 and 50-day EMA
  • The LTC/BTC pair was trading at 0.003781 BTC with a gain of 0.4%
  • the current price of the LTC coin is $169, with an intraday loss of 0.69%

The LTC coin has shown a fantastic rally, with a 70% recovery after the price bounced from the $105 mark. This rally has provided multiple opportunities for traders, as was knocking out new resistance one after another. However, today, the coin price has just touched the $180 resistance level and has retracted back, showing a Doji-type candle.  

Concerning the EMA lines, the LTC coin is in a bullish trend as the price is trading higher to the critical EMA’s 20, 50, 100, and 200. Moreover, the coin chart also shows a bullish crossover of the 20 and 50 EMA, attracting even more buyers in the coin market.

The RSI (BULLISH) value is 71, indicating a bullish sentiment in the coin as the RSI line is steadily marching towards the overbought zone.

The Ascending Trendline Carrying The Bull Rally In LTC Coin

The coin chart shows a new ascending trendline leading the bullish rally in the LTC coin. Furthermore, as the price indicates a rejection from the overhead resistance, the LTC traders can expect a pullback to the support trendline, which could provide an excellent entry opportunity for them until the trendline is intact.

MACD indicators (BULLISH), which show MACD and signal moving above the neutral area(0.00), indicate strong bullish momentum in the coin. However, the indicator also shows these lines are on the verge of giving a bearish crossover, projecting a sell signal.

Conclusion: From the technical perspective, the LTC coin shows a great bullish outlook in its price action, providing an excellent opportunity for market participants to look for long entries in this coin. Thus, as mentioned above, the LTC traders can use the ascending trendline to ride the bullish rally.

Support– $160

Resistance– $180

(Excerpt) Read more Here | 2021-08-12 05:32:51
Image credit: source

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