Rajarshi Mitra
Independent Analyst
- The last time LTC/USD trended above $75 was back on 21st September 2019.
- The RSI indicator is hovering around 77.75 inside the overbought zone.
LTC/USD daily chart
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LTC/USD is trending in an upward channel pattern after it charted three straight bullish days. During this period, LTC/USD went up from $67.89 to $74.22 and is on the verge of crossing above $75 for the first time since 21st September 2019. The price is hovering above the SMA 20, SMA 50 and SMA 200 and has found resistance at the upper curve of the 20-day Bollinger Band. The MACD shows decreasing bullish momentum, while the Elliott Oscillator has had four consecutive red sessions. The RSI indicator is trending around 77.75 inside the overbought zone, hinting that a bearish correction may be round the corner.
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