$LTC.X: Coasting...
Along with #ETH, Litecoin seems to have remained relatively stable since its last correction. As of right now, the LTC/USD exchange rate is hovering directly in-between its 50-day and 100-day simple moving averages. However, its current price point is sitting directly on top of the 100-day, signaling thats its current level may be providing a strong floor of support. In addition, the MACD is indicating solid momentum of buy-volume, as the 12-day EMA continues to coast above the 9-day EMA on a steady upward rise. Nonetheless, LTC is still sitting below its 50-day SMA and struggling to regain control of its recently broke uptrend. Therefore, creating or increasing a position in Litecoin at this point may not be smartest move. If LTC can hurdle through its past uptrend and break to the upside around $57, then expect continued bullish action. On the other hand, however, if LTC breaks below previous resistance around the $47 level, this may indicate that LTC is beginning to gain some bearish momentum. Watch this one closely everyone!
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