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Litecoin: USD/LTC (LTC=) Strong Support at $100

$LTC #Litecoin #Crypto #Cryptocurrencies #FX #Trading #Markets

Litecoin
Ticker: LTC=
Price: $101.14

Litecoin Outlook

Litecoin mounted a strong defense of the $100 level but was headed lower once more, with $108 being a level bulls would seek to defend. 

Cosmos bounced feebly off the $4.8 level following a bullish divergence, but bears pushed the prices lower and could flip it to resistance and Dogecoin retraced some of the gains it made on a recent surge.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 82.41.

The projected upper bound is: 116.44.

The projected lower bound is: 86.36.

The projected closing price is: 101.40.

Candlesticks

A black body occurred (because prices closed lower 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 27 white candles and 23 black candles for a net of 4 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.8968. This is not an overbought or oversold reading. The last signal was a sell 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 61.18. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.

Rex Takasugi – TD Profile

FOREX LTC= closed down -2.270 at 100.480. Volume was 59% below average (consolidating) and Bollinger Bands were 157% wider than normal.

Open      High      Low     Close      Volume
102.750   106.460   94.440  100.480    90,652
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           101.68        79.91         57.35
Volatility:      97            122           87
Volume:          358,612       285,940       195,854

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

FOREX LTC= is currently 75.2% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

Our volume indicators reflect volume flowing into and out of LTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on LTC= and have had this outlook for the last 7 periods.

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