#Litecoin is currently rising, but it is likely to face a strong resistance near $150.
Litecoin started a strong decline below the $165 and $150 support levels against the US Dollar.
The MACD appears to be turning bullish, with a similar motion before the breakout in December. As the 12-day exponential moving average crossed above the 26-day exponential moving average, the odds for a bullish impulse increased significantly.
Litecoin closed up 3.940 at 149.310. Volume was 42% below average (neutral) and Bollinger Bands were 100% wider than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the bullish or bearish trend reflected in the lower ribbon.
Summary
Litecoin is currently 120.2% above its 200-period moving average and is in an upward trend.
Volatility is extremely high when compared to the average volatility over the last 10 periods.
There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect volume flowing into and out of Litecoin at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bullish on Litecoin and have had this outlook for the last 28 periods.
Overall, the bias in prices is: Upwards.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles.
During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Three white candles occurred in the last three days.
Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
