Home Featured LTCUSD Technical Analysis – 06th APR, 2023

LTCUSD Technical Analysis – 06th APR, 2023

LTCUSD Technical Analysis – 06th APR, 2023

LTCUSD – Bullish Harami Pattern Is Above $86.64

LTCUSD Technical Analysis – 06th APR, 2023

Bears couldn't pull the market further down last week, and after touching a low of $86.64 on 30th March, the prices started to correct upwards against the US Dollar, touching a high of $94.91 on 03rd April.

This week we saw a bullish open to the markets.

Above the $86.64 handle, we can see a bullish-harami pattern. This pattern signals the end of a bearish market phase and the beginning of a bullish one.

The price of Litecoin is near the channel's support, indicating upcoming bullish movement. Also, Litecoin is trading above its 100-hour simple moving average and 100-hour exponential moving average, and it's above the pivot level of $92.93.

The relative strength indicator is $52.50. This indicates a neutral demand and a shift towards the market consolidation phases.

The prices for Litecoin are still above the moving averages. This is a bullish signal at current market levels $90.65.

Both the Williams percent range of the commodity channel index and the Williams percent range are signalling neutral market conditions. This indicates that the price will likely remain in a consolidation stage in the short-term.

The short-term outlook on Litecoin is mildly…

Continue reading…