Litecoin Ridding On Bulls:
Price Analysis
Global X change. Right now the price of litecoin is around $113.82. Litecoin is trading way above the trend line. Price is trading near the resistance of $114.59. The trend is clearly bullish in the near term. Bulls will try to push the price to next resistance at $135.34. The price crossed the resistance of $114.59 with large volume.
RSI is near the overbought zone. Currently, RSI is at 66.538. Stochastic is also in the overbought zone. Ichimoku cloud is indicating a bullish trend in the market. Globalexchange. Conversion Line is moving flat and above the baseline. MACD is also showing momentum in the trend.
Strategy
Globalxchange. Litecoin can touch the target of $135.34. If the trend remains the same then price level of $179.14 can be seen. Before next swing, we can see a correction to the price level of $90. Price is in the bullish trend, so the price level of $135.34 can be seen soon.
To take a position in this market wait for the correction to take place. In correction price level of $90 can be seen. On the other hand, if the price keeps moving up, we can take a position at $115. Global X change. But there are more chances of correction in the near future.
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