- Litecoin value began an upside correction above the $120 zone towards the US Greenback.
- LTC value is now nicely above the $130 stage and the 55 easy shifting common (4-hours).
- There was a break above a vital bearish development lien with resistance close to $128 on the 4-hours chart of the LTC/USD pair (information feed from Coinbase).
- The pair should clear $145 and $150 to start out a contemporary rally within the close to time period.
Litecoin value is slowly gaining tempo above $130 towards the US Greenback, not like bitcoin. LTC value should break $150 to maneuver additional right into a optimistic zone within the close to time period.
Litecoin Value Evaluation
This week, there was a good upward transfer in bitcoin, ethereum, ripple, and litecoin towards the US Greenback. Earlier, LTC fashioned a base above the $120 stage and it began a contemporary enhance.
The bulls have been in a position to push the worth above the $130 stage and the 55 easy shifting common (4-hours). There was a break above a vital bearish development lien with resistance close to $128 on the 4-hours chart of the LTC/USD pair.
The pair even spiked above the 50% Fib retracement stage of the primary decline from the $182 swing excessive to $105 low. Nevertheless, the worth is now going through a robust resistance close to the $145 and $150 ranges. There was additionally already a rejection famous close to the $148 stage.
The 61.8% Fib retracement stage of the primary decline from the $182 swing excessive to $105 low can also be close to the $152 stage. Subsequently, the worth should break the $150 and $152 ranges to proceed larger. The following key resistance is close to the $165 stage and $168.
An preliminary help on the draw back is close to the $135 stage. The following main help may very well be close to the $132 stage and the 55 SMA. Any extra losses would possibly name for a drop in direction of the $110 stage.
Litecoin (LTC) Value
Trying on the chart, litecoin value is clearly buying and selling nicely above $130 and the 55 easy shifting common (4-hours). Total, the worth should clear $145 and $150 to start out a contemporary rally within the close to time period.
Technical indicators
4 hours MACD – The MACD for LTC/USD is struggling to achieve tempo within the bullish zone.
4 hours RSI (Relative Power Index) – The RSI for LTC/USD is now above the 50 stage.
Key Assist Ranges – $135 and $132.
Key Resistance Ranges – $145 and $150.
