Litecoin, LTCUSD, CryptoCompare chart

LTCUSD Medium-term Trend: Sideways

Resistance: $225, $220, $215

Support: $195, $200, $205

Last week, LTCUSD pair has been in sideways movement for many days at a price of $222.06 but currently trading at $218.97. The price has been fluctuating in a sideways market which relatively has made it to be steady.

Today, LTCUSD pair is moving sideways and horizontally.  The 50-day moving average and 20-day moving average are trending horizontally whereas the RSI period 14 is level 50 indicating that the average gains are higher than average losses. Traders cannot trade a market that is choppy or flat. There is no trading range between the resistance and support levels.                                                                                                                                 

LTCUSD Short-term Trend: Bullish

Litecoin, LTCUSD, CryptoCompare chart

In the short term trend, LTCUSD pair is in a bullish trend. The bullish trend commenced at  a price level of $216  and soar higher. The price of litecoin will continue to rise as long as the market is bullish. Traders can profit in the uptrend movement. First recognize that you are in uptrend. An uptrend is when prices make a series of higher highs (HH) and higher lows (HL).

Secondly, in an uptrend the market will always retrace back to the previous swing point and then bounce higher to resume the uptrend. See retracement at price $218.These are swing point to lookout for to place your long trades. Thirdly, you can follow the familiar logic of buying low and selling high.