Litecoin (LTC) Price Analysis – February 19

  • The price of Litecoin faces resistance at the $48 price level.
  • The crypto's price is expected to rise if the bulls break the $48 and $50 resistance levels.

Litecoin, LTCUSDLitecoin Chart by Trading View

LTCUSD Medium-term Trend: Bullish

  • Resistance Levels: $60, $65, $70
  • Support Levels: $40, $35, $30        

The LTCUSD pair is in the bullish trend zone. In retrospect, the price of Litecoin was range bound above the $30 price level since January 10, 2019. On February 8, the bulls broke out of the range-bound movement and reached a high of $48.10. The LTC price faced resistance at the $48 price level and the crypto fell to the support of 12-day  EMA.

At the support of 12-day EMA, the bulls made another attempt at the resistance level at $48. On the upside, the crypto's price is expected to rise if the bulls break the $48 resistance level. Meanwhile, the Stochastic is in the overbought region but below the 80% range which indicates that the crypto is in a bullish momentum and a buy signal.

LTCUSD Short-term Trend: Bullish 

Litecoin, LTCUSDLitecoin Chart by Trading View

On the 4-hour chart, the price of Litecoin is in a bullish trend. The crypto's price was making a series of higher highs and higher lows when the trend line was broken at the $48 price level. From this chart, the bullish trend is terminated because the trend line has been broken and the following candlestick closed in the opposite of the trend line.

The bulls are still pushing towards the resistance level. Meanwhile, the Stochastic is in the overbought region but below the 80% range which indicates that the crypto is in a bullish momentum and a buy signal.

           

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.           

Users Post Haunting Coronavirus Photos in Response to John McAfee's $500 in DAI Offer

  • John McAfee offered a $500 DAI reward for the best photo to encapsulate the ongoing coronavirus pandemic.
  • Users submitted haunting photos of vacant locations, including New York City.

John McAfee is offering a $500 reward in the stablecoin DAI for the best photo that encapsulates the post-apocalyptic nature of the ongoing coronavirus pandemic. 

In a tweet made April 3, McAfee asked for users who were able to leave their homes to send him photos of “interesting” aspects of their cities as a result of the coronavirus shutdown. He offered a $500 reward for the best photo, with the winner being announced next week. 

Users immediately began submitting photos encapsulating the haunting and vacant reality of cities across the globe. 

One user published a photo of Grand Central in New York City during rush hour. 

Another user published a photo showing the mostly vacant street corners of Times Square. 

Gas prices have plummeted across the country as a result of the slow response by the Organization of Petroleum Exporting Countries (OPEC) cartel to the ongoing economic crisis. One Twitter user published a photo of unleaded gasoline in his town going for less than $1 per gallon. 

Featured Image Credit: Photo via Pixabay.com