LTC/USD: technical analysis 02.04.2018

LTCUSDH402042018

Current trend

On the 4-hour chart, the price went up above the level of 115.8700 (the middle line of Bollinger Bands) and can grow further to the levels of 121.6000 (the upper line of the Bollinger Bands).

A decrease is possible after the breakout of the level 115.8700, which can develop to the levels of 112.5000 (Murray [1/8]), 100.0000 (Murray [3/8]).

Technical indicators reflect the moderate maintenance of the current upward trend.

MACD volumes are decreasing in the negative zone, showing the growth of buyers’ moods.

Bollinger Bands are slightly leaned upwards.

Stochastic’s lines are pointed upwards.

Support and resistance

Support levels: 115.8700, 112.5000, 100.0000.

Resistance levels: 121.6000, 125.0000, 137.5000.

Trading recommendations

Short positions can be opened below the level of 115.8700 with the target at around 112.5000-100.0000 and stop loss 119.0000.

Long positions can be opened above the level of 1.2329 with the target at around 1.2359-1.2390 and stop loss 1.2310.