In the past 3 days, the LTC price has risen from $141.98 to $155 (closing price as of February 5, 2021). The price has surged by approx. 9% since February 2, 2021. The LTC price retraced before a price upswing again. In the past 24 hours, LTC is trading between $148.60-$164.27. https://ift.tt/2YNndu8 LTC: Technical Indicators for Day-Ahead and Tomorrow Currently, LTC is trading at $159.13 – a rise from the opening price of $154.93. The OBV and A/D indicators are rising. The price is also uptick. Hence, the market looks healthy. Buying pressures have overtaken the selling pressures. In other words, whale accumulation is steadily increasing. Thus, the LTC market is poised to move upwards. The RSI indicator is at 51%. Since it is closer to 50%, it is giving a signal for going ‘short.’ However, in the past 24-hours, it has frequently rallied from the ‘oversold’ region towards the ‘overbought’ region. Thus, price correction is happening. Intermittent price pullbacks seem temporary. The MACD and signal lines have become positive from being negative for almost 2 hours. A bullish crossover by MACD line over signal line gives further credence to a bullish price trend. The AO indicator has changed the sign too. It was negative for almost 2 hours. ‘Buy’ signal coming from the AO indicator implies that buying activity is steadily increasing. Thus, the LTC price will continue to be an uptick. However, the ADX line is falling. The price moving in the opposite direction indicates a bearish divergence. This means the market is losing its breath and a price pullback may occur. In other words, the price may retrace before continuing an upward movement as other indicators are showing a positive trend. The SMA and EMA lines are slightly below the price line. The difference is minuscule. So, price correction is happening, but not necessarily a price downtrend. Presently, the price is nearing the 23.6% FIB retracement level of $160.60. It has successfully broken out of the 38.2% FIB retracement level of $158.34. Thus, the price upswing will continue. The current LTC price is well above the Fibonacci pivot point of $155.98. However, it is struggling to go past $160. But, by the end of the day, we can expect the price to break out of the first and second Fibonacci pivot resistance levels of $161.91 and $165.58, respectively. With no significant events that are likely to adversely impact the LTC price in the next couple of days, we can expect the bullish momentum to continue tomorrow as well.
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