LTC/USD: technical analysis 21.03.2018

Current trend

On 4-hour chart, LTC/USD is growing along the upper line of the Bollinger Bands and is testing the resistance level of 175.000 (Murray [6/8]).

Technical indicators reflect the moderate maintenance of the current dynamics.

MACD is growing in the positive zone.

Bollinger Bands are directed up.

The breakout of the level of 175.000 will let the price to grow to the area of 187.50 (Murray [7/8]).

However, as Stochastic is in the overbought area, and the price has broken the upper border of Bollinger Bands, the downward correction is not excluded.

If LTC/USD cannot consolidate above the level of 175.000, the downward trend restoration and test of the level 157.106 (the middle line of Bollinger Bands) are possible.

Support and resistance

Support levels: 162.50, 157.106, 150.000.

Resistance levels: 175.000, 187.500, 200.000.

Trading recommendations

Short positions can be opened below the level of 166.600 with the target at around 157.106 and stop loss 169.000.

Buy positions can be opened above the level of 175.000 with the target at around 187.500 and stop loss 171.000.