Litecoin

Litecoin Prints Bullish Breakout, Why LTC May Surpass $65


Litecoin value is gaining momentum above $62.00 in opposition to the US Greenback. LTC is more likely to proceed increased (just like bitcoin), and it might even break the $65.00 resistance within the close to time period.

  • Litecoin shaped a robust assist base close to $57.00 and began a recent enhance in opposition to the US Greenback.
  • The value is now buying and selling properly above the $60.00 degree and the 100 easy shifting common (4-hours).
  • There was a break above a serious contracting triangle with resistance close to $60.00 on the 4-hours chart of the LTC/USD pair (knowledge feed from Kraken).
  • The value is more likely to proceed increased above the $64.00 and $65.00 resistance ranges.

Litecoin Worth Begins Contemporary Improve

This week, bitcoin value gained tempo above the $15,500 and $16,00zero resistance degree, sparking optimistic strikes in altcoins. Litecoin carried out very well, and it began a good upward transfer after forming a assist base close to the $57.00 degree.

LTC value broke the $58.50 and $60.00 resistance ranges to maneuver right into a optimistic zone. There was a break above the 50% Fib retracement degree of the downward transfer from the $64.92 swing excessive to $57.00 swing low.

Furthermore, there was a break above a serious contracting triangle with resistance close to $60.00 on the 4-hours chart of the LTC/USD pair. Litecoin value is now buying and selling properly above the $60.00 degree and the 100 easy shifting common (4-hours).

Supply: LTCUSD on TradingView.com

A right away resistance is close to the $63.00 degree or the 76.4% Fib retracement degree of the downward transfer from the $64.92 swing excessive to $57.00 swing low. The primary main resistance is close to the $64.00 degree.

The primary resistance is close to the $65.00 degree. A profitable break and shut above the $65.00 resistance could maybe open the doorways for a good enhance in the direction of the $70.00 resistance.

Dips Probably Restricted in LTC

If litecoin fails to proceed above the $63.00 resistance or the $65.00 zone, there are probabilities of a draw back correction. On the draw back, the primary main assist is close to the $60.00 area (the current breakout zone).

The primary assist is now forming close to the $57.00 degree and the 100 easy shifting common (4-hours), under which the value might check $55.00.

Technical indicators:

4-hours MACD – The MACD is now gaining momentum within the bullish zone.

4-hours RSI (Relative Energy Index) – The RSI for LTC/USD is presently rising and it’s nicely above the 50 degree.

Main Assist Ranges – $60.00 adopted by $57.00.

Main Resistance Ranges – $63.00 and $65.00.



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