LTC/USD recovers above $43 and outperforms most of the crypto market

June 26, 2020 John Litecoin 0

  • Litecoin is one of the few cryptos on June 26 to see positive gains.
  • LTC/USD is up 2%, but as been rejected from the daily 12-EMA.

Litecoin is outperforming the market bouncing from a low of $41.32 to $43.54. The next clear resistance level is established at $43.53, the daily 12-EMA. Bulls seem to have picked up the pace and are trying to change the daily downtrend.

LTC/USD daily chart

Litecoin is currently in a daily downtrend trading below the 12-EMA and the 26-EMA. Both EMAs have crossed bearishly on June 14 when the daily uptrend was basically lost. 

LTC/USD 4-hour chart

LTCUSD

Litecoin has established a 4-hour uptrend after climbing above the 12-EMA at $42.60 and the 26-EMA at $42.93. Bulls are now holding the 26-EMA as support and are looking for the next leg up with a lot of support nearby.