Home Litecoin Litecoin Price Analysis: LTC/USD hits $70-mark for the first time since August 2018. – FXStreet

Litecoin Price Analysis: LTC/USD hits $70-mark for the first time since August 2018. – FXStreet

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  • LTC/USD went up from $61 to $75.50 this Tuesday as the entire crypto market experienced significant gains.
  • The bulls will now set their sights on the $100-mark.

Litecoin was one of the biggest movers on a historic Tuesday which saw the entire crypto market experience significant gains. LTC/USD bulls had an absolute field day as the price went up from $61 to $75.50, charting a 23.70% gain. It remains to be seen if the bulls can carry the momentum and continue the march towards the $100-mark. With this spike in price, LTC/USD is also enjoying an 8-month high.

LTC/USD daily chart

Since February 8, 2019, the LTC/USD daily price has been charting an ascending wedge pattern. This Tuesday’s session was so bullish that:

  • The Eliiot wave oscillator’s last session was incredibly bullish even though the three sessions before that were all bearish.
  • The signal line took an about turn and crossed over the moving average convergence divergence (MACD) line to shift the momentum abruptly towards the bulls.
  • The relative strength index (RSI) curve took a sudden spike and entered the overbought territory.
     

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