Litecoin Price Rises on the Rise – March 30
It is still clear that the LTC/USD market activity is still holding values with a higher resistance as the crypto economic price rises in a rally move. The crypto economy is around $131 between the highs and lows of $133 and $126, with a minimum positive rate of 0.95.
Price Rises on the Rise: LTC Trade
Resistance Levels: $135, $145, $155
Support Levels: $120, $90, $80
LTC/USD – Daily Chart
The daily LTC/USD chart shows crypto-economic price increases in a pick-up move north. The 14-day SMA indicator is bending slightly north below the 50-day SMA indicator. Smaller candlesticks are continuously showing slightly above the larger SMA trendline. The Stochastic Oscillators are in overbought territory and are moving in a consolidating fashion to indicate that there is still an upside going on.
Is it safe to start short positions in the LTC/USD market if the price rises in a rally move?
It is still a bit that the LTC/USD market sellers are gaining momentum to date as the crypto economic price rises in a rally move. Long position takers have been cautious about either pausing or continuing to rally around the higher USD 130 level. Technically, it is not ideal to go for more opening of new long orders.
The flip side of the technical analysis is that the short position takers of the LTC/USD market should be wary of price rejections around a higher resistance trading level. Some barriers are piling up as the price holds, rising before rallying around the 50-day SMA trendline. The price is likely to fall in value while it cannot stay firmly above the USD 135 resistance level in the long run.
LTC/BTC Price Analysis
In comparison, Litecoin, as the basic cryptocurrency, is now striving to regain its stance against Bitcoin. Lately, the counter crypto has been exerting a force on the base crypto as the price fell, back to trade around the trendline of the smaller SMA. The 50-day SMA trendline is above the 14-day SMA trendline. The stochastic oscillators are close to the range of 20 and try to close the lines around the range line. A series of bullish candlesticks is in the works, meaning the basic crypto may soon try to push back north.
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