The cryptocurrency managed to make 18% in the last five trading sessions. The pair is looking to reach the resistance level at $143.72 but it could find retracement before that happens.
The Bollinger bands are closing up which would bring lower volatility, the pair is trading closer to the upper band which indicates that the price is close to being considered relatively high. Litecoin trades above the short-term moving average and it is getting very close to passing the long-term moving average, which would indicate that the uptrend could continue.
The relative strength index is at 54% which would allow the price to continue climbing before a potential pullback. Our parabolic SAR indicator suggests that the price will continue the uptrend in the short term.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.