Posted In: Forex Trading Posted On: 2019/02/24 20:13 PM Posted By: ituglobal
LTC/USD Long-term Trend: Bullish
The LTC/USD pair is in a bullish trend zone in the month of February. On February 1, the crypto has an opening balance of $32.04. After its range-bound movement, on February 8, the bulls broke the 12-day EMA, the 26-day EMA and reached the high of $43.81. The crypto’s price is in the bullish trend zone which indicates that the crypto will continue to rise. The crypto’s price reached another high of $53.79 but closed at the $52.56. The crypto is expected to reach the highs of $60 and $65 price levels.
The forecast will be invalidated if the bears break below the EMAs, and the crypto resumes a downward trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the crypto is in the bullish trend zone.
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