Distribution territories: $120.00, $140.00, $160.00. Accumulation territories: $70.00, $50.00, $30.00.

Litecoin has been seeing its price appreciate against the US dollar this week. The bulls pushed the cryptocurrency past its last low of $75,00.

On July 15, like many other cryptocurrencies, LTC also saw the emergence of a short bullish Japanese candlestick. LTC’s value rose steadily on July 16 and 17.

The cryptocurrency’s price briefly touched the 50-day SMA from below on July 18, and later on, started reversing until now. The action that took place on July 16 broke the 14-day SMA, and its Japanese candlestick bottom line at $78.00 now stands as one of the pivotal price points that seems to be able to hold as a support.

The 50-day SMA is located above the 14-day SMA. The Stochastic Oscillators have moved northwards a bit past range 60, and now faintly point north-east. Read more from cryptoglobe.com…

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