LTC/USD: technical analysis 27.03.2018


Current trend

LTC/USD is in the upward correction, after the fall to the level of 137.5000 (Murray [2/8]).

Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term.

MACD is active falling in the negative zone.

However, as Stochastic is in the overbought area, and the price has broken the lower border of Bollinger Bands, the upward correction is possible.

The price went up above the level of 141.000 and can grow further to the levels of 150.000 (Murray [4/8]) and 154.58 (the middle line of Bollinger Bands).

The downward trend will be restored after the price is set below the level of 137.5000 (Murray [2/8]).

In this case, the next targets of sellers will be the level of 131.2500 (Murray [1/8]).

Support and resistance

Support levels: 137.5000, 131.2500, 125.0000.

Resistance levels: 143.7500, 150.0000, 156.0000.

Trading recommendations

Short positions can be opened below the level of 137.5000 with the target at around 131.2500 and stop loss 139.5000.

Long positions can be opened above the level of 143.7500 with the target at around 150.0000 and stop loss 141.1000.