LTC has started to move to the upside after having a period of sideways movement as seen by the horizontal yellow rays, we have broken out of this sideways channel which could also be looked at as a bullish triangle which ive also drawn in, another crucial level we have taken out well looking like we will take out (have to wait for daily close at 8PM EST) is the R1 resistance level which is very bullish, we could've gotten rejected off of this level but Litecoin is showing some strength pushing through, a close above here will open the door for a push up to the 222$ resistance level, pretty heavy resistance but with some good momentum we should be able to push through, also on todays candle we have wicked up and above this level which is already weakening the level. 1 more near term target is the resistance at 247$-250$ level, we historically have had some problems getting up and above this level but with the upcoming surge in the markets im sure this is on the table. Something very bullish coming from the bollinger bands is we are directly ontop of the top band, and if we see a daily close up here we could see an explosive ride up the top band very likely bringing us to that 247$ level. Now lets look at the MACD, we are looking alright here we just had a bullish cross but i would definitely like to see some more bullish action to confirm this. we had a 1 day bear cross just before this bullish cross, we had a red bar right before todays bar, we want to see increasing green bars indicating a rise in bullish momentum, if we continue to stay flat or decrease we would be looking at another bear cross, another key thing i want to see is that Blue MA start to really take off from the orange MA, we need to see some separation or we risk a bear cross off of a small sharp downside move from price action, having good spread in the MA's lessens the chance of having a near term bearish cross and it also allows price action to have some room to go down for a couple days without triggering a bear cross! Not financial advice just my opinion!
