The long call given in previous Litecoin price technical analysis Breakout has certainly paid off big. Litecoin price has jumped from $2.887 to hit an intraday high of $3.137, a huge addition of 8.66 percent. Even now, the momentum is looking very strong as Litecoin threatens to take out another key resistance level.
Litecoin is currently trading at $3.110.
Technically, Litecoin remains on a very strong footing but it runs a major risk as well – the risk of being quickly overbought. Read the latest values of the technical indicators below for further clarity.
Litecoin Chart Structure – After a strong breakout from the trendline connecting the previous two peaks, Litecoin is aiming for huge gains. As can be seen from the daily LTC-USD price chart above, it has already pierced the 150-day simple moving average of $3.0194 and is challenging the 50-day SMA of $3.0809 at present.
Moving Average Convergence Divergence – MACD is disconnecting swiftly from Signal Line to push Histogram higher. The latest values of MACD, Signal Line and Histogram are -0.0230, -0.0734 and 0.0503 respectively.