LTC/USD bulls regain control, push price back above $45

Fibo Quantum

  • LTC/USD had a bearish Tuesday wherein it fell from $45.15 to $44.78.
  • The price is hovering above the 20-day Bollinger Band, indicating that it’s overpriced.

LTC/USD daily chart

LTC/USD bulls regained control following a bearish Tuesday. The price has so far gone up from $44.78 to $46.71. Currently, the price encountered resistance at the downward trending line. Ideally, the bulls will want to break above this like and then negotiate with resistance at the $49.90 line to break above the SMA 50 curve and enter the $50 zone. However, the price is hovering above the 20-day Bollinger Band, indicating that it is currently overpriced and may face bearish correction soon. Both the MACD and Elliott Oscillator show increasing bullish sentiment.

Key levels