LTC 20 EMA Line Crossover Preps To Test 50 EMA

Source : coinquora.com

  • LTC’s price currently stands at $70.65, or 0.002324 BTC, following a 6.54% increase against the dollar over the last 24 hours.
  • The price of LTC has risen above the 20 EMA line and is now making a move towards the 50 EMA line.
  • Another technical indication favoring a short-term bullish move for LTC is the RSI being above the RSI SMA.

Litecoin (LTC) occupies the 19th spot on CoinMarketCap’s list of the biggest crypto projects according to market caps. Currently, LTC is ranked under Cronos (CRO) which occupies the 18th position on CoinMarketCap’s list, and above NEAR Protocol (NEAR) which is ranked 20th on the list.

LTC’s price currently stands at $70.65, or 0.002324 BTC, following a 6.54% increase against the dollar over the last 24 hours. Over the last week the coin is still down however, with a 15.28% decline in price over the last seven days, according to CoinMarketCap.

LTC’s highest price in the last 24 hours is $70.82. Therefore, there is a chance that a new daily high will be set for the coin as its current price is only a couple of U.S. cents away from its 24 hour high.

When looking at trading volume, LTC’s volume has picked up to $762,250,695 in the last 24 hours, which is a 13.19% rise since yesterday. LTC’s market cap is currently $4,969,067,438 and the current supply of LTC in circulation is 70,301,693.78 LTC.

LTC price jumps past 20 EMA (Source:TradingView)

On the 4 hour chart for LTC/USDT, the price of LTC has risen above the 20 EMA line and is now making a move towards the 50 EMA line. If the price is able to break past the 50 EMA as well then it could be a confirmation that the price of LTC will continue to rise over the next 4-12 hours.

Another technical indication favoring a short-term bullish move for LTC is the RSI being above the RSI SMA, and both lines being sloped upwards. Seeing that the RSI is at 53.25, there is still more room for buy orders to come in before the coin is overbought.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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