The price of Litecoin (LTC) is currently consolidating after a small pullback from the well-overbought levels seen late last week. Is there more upside for the altcoin in the immediate future?
After leading the marketwide charge late last week, the price of Litecoin (LTC) has cooled off and is looking set for another move. Odds are, that move will be to the upside — at least against Bitcoin (BTC).
Daily Exponential Moving Averages
Litecoin’s three exponential moving averages (EMA) are looking rather bullish against its big brother, Bitcoin.
The 50-day EMA has crossed over both the 100-day and 200-day EMAs, suggesting the popular altcoin is ready to undergo a full-fledged trend reversal.
200-Week Moving Average
Adding additional support to that theory is the 200-week simple moving average (MA), as shown below: