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Litecoin "LTC" Technical Analysis | 18 September 2019

2019-09-18 08:16 am | Resource: Technical Analysis Section | No Views : 21

Litecoin Litecoin (LTC) against the US dollar broke the downtrend line during morning trading yesterday as a result of increased demand.
Consequently, the digital currency broke through resistance areas of $ 71.86, and continued to rise until the areas of $ 77.09 achieved yesterday evening.
Litecoin "LTC" Technical Analysis | 18 September 2019
The cryptocurrency Litecoin (LTC) is trading through a bullish trend under formation supported by a break of $ 71.86 resistance areas and then breached the downtrend line on the 4 hour interval.
A negative bearish candlestick can be seen during this morning's trading, indicating that the uptrend strength is decreasing.

Analysis of technical indicators of the digital currency Litecoin (LTC): 

ADX is bullish at the moment and indicates the strength of the uptrend by trading above 30 pips.
The 20 SMA is now bullish.
Momentum indicator with default settings is currently bullish.

Outlook:

It is expected that, in the event of a Litecoin (LTC) breach of the levels of $ 77.09, the cryptocurrency may target areas of $ 83.60.
Whereas, in case of Litecoin (LTC) break $ 69.16 zone, cryptocurrency may target the levels $ 64.60.
Support: 71.86-63.49-58.79
Resistance: 79.59 - 85.81 - 94.62
Trend: Bullish

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