Litecoin selling price is attaining momentum higher than $62.00 in opposition to the US Dollar. LTC is most likely to carry on bigger (very similar to bitcoin), and it could even split the $65.00 resistance in the near time period.
- Litecoin formed a robust guidance foundation close to $57.00 and commenced a new boost in opposition to the US Dollar.
- The value is now investing nicely over the $60.00 stage and the 100 uncomplicated transferring typical (4-hours).
- There was a split above a major contracting triangle with resistance in the vicinity of $60.00 on the 4-hrs chart of the LTC/USD pair (information feed from Kraken).
- The price is most likely to go on increased previously mentioned the $64.00 and $65.00 resistance degrees.
Litecoin Rate Starts off Clean Raise
This week, bitcoin cost gained speed earlier mentioned the $15,500 and $16,000 resistance degree, sparking positive moves in altcoins. Litecoin carried out actually nicely, and it begun a decent upward shift after forming a assistance base near the $57.00 degree.
LTC cost broke the $58.50 and $60.00 resistance stages to go into a good zone. There was a crack previously mentioned the 50% Fib retracement amount of the downward move from the $64.92 swing higher to $57.00 swing very low.
What’s more, there was a crack earlier mentioned a major contracting triangle with resistance in the vicinity of $60.00 on the 4-several hours chart of the LTC/USD pair. Litecoin selling price is now buying and selling properly earlier mentioned the $60.00 level and the 100 straightforward moving ordinary (4-hrs).
Resource: LTCUSD on TradingView.com
An immediate resistance is in the vicinity of the $63.00 degree or the 76.4% Fib retracement degree of the downward move from the $64.92 swing substantial to $57.00 swing small. The initially big resistance is in close proximity to the $64.00 degree.
The key resistance is in the vicinity of the $65.00 stage. A profitable crack and close above the $65.00 resistance may perhaps maybe open up the doorways for a first rate maximize in the direction of the $70.00 resistance.
Dips Possible Restricted in LTC
If litecoin fails to proceed higher than the $63.00 resistance or the $65.00 zone, there are likelihood of a downside correction. On the draw back, the 1st big assistance is in close proximity to the $60.00 region (the recent breakout zone).
The major support is now forming in close proximity to the $57.00 amount and the 100 uncomplicated transferring typical (4-hours), under which the price tag could examination $55.00.
Specialized indicators:
4-several hours MACD – The MACD is now gaining momentum in the bullish zone.
4-several hours RSI (Relative Toughness Index) – The RSI for LTC/USD is currently increasing and it is properly over the 50 stage.
Key Support Levels – $60.00 followed by $57.00.
Big Resistance Degrees – $63.00 and $65.00.
