In the short-term, Litecoin is turning bullish with dip-buyers taking control of the cryptocurrency. The four-hour chart highlights the current battle going on between bulls and bears, with a head and shoulders pattern facing-off against an inverted head and shoulders pattern.
Traders should be cautious until a breakout occurs, both patterns remain valid and the direction of trade surrounding Litecoin in the short-term is still sketchy.
An interesting recent development on the LTC / USD pair is its price-action, which is starting turn more bullish in comparison to other leading cryptocurrencies.
The four-hour time frame chart best illustrates the current battle underway between bulls and bears.
LTC / USD H4 Chart (Source: TradingView)
Relative Strength Index
The Relative Strength Index has turned bullish on the four-hour time frame, traders should watch for continued price stabilization above the neutral line for a bullish signal.
The MACD histogram is starting to follow price higher on the mentioned time frame, with the signal line crossing higher.Litecoin / USD Medium-term price analysis
Litecoin is bearish over the medium-term but is certainly one of the more interesting cryptocurrencies in terms of its potential for a strong upside or downside move over this time horizon.
The LTC / USD pair has been trapped in a descending price channel and has recently moved towards the top of the channel, ...