Litecoin cost is attaining momentum above $65.00 in opposition to the US Greenback. LTC is most likely to carry on larger towards the $70.00 and $72.00 resistance levels in the near term.
- Litecoin remained nicely bid and surpassed the $65.00 resistance zone versus the US Greenback.
- The cost is now investing properly previously mentioned the $66.00 stage and the 100 easy shifting average (4-hours).
- There is a significant bullish craze line forming with assist in the vicinity of $63.00 on the 4-hrs chart of the LTC/USD pair (information feed from Kraken).
- The cost is probable to go on larger over the $68.00 and $70.00 resistance concentrations.
Litecoin Price tag is Surging
In the previous technical investigation, we talked about why litecoin could surge previously mentioned $65.00 versus the US Greenback. LTC value did attain momentum and broke many hurdles close to $64.00 and $65.00.
The latest upward go was these types of that the selling price broke the 76.4% Fib retracement amount of the downward move from the $66.60 swing significant to $61.07 swing low. Not long ago, bitcoin and ETH corrected reduced, but litecoin remained well bid over the $65.00 stage.
The value is now trading nicely earlier mentioned the $66.00 degree and the 100 straightforward relocating average (4-hrs). There is also a significant bullish craze line forming with support near $63.00 on the 4-hrs chart of the LTC/USD pair.
An preliminary resistance is near the $67.90 and $68. stages. The initially key resistance is close to the $70.00 stage. The stated $70.00 hurdle is also close to the 1.618 Fib extension amount of the downward move from the $66.60 swing higher to $61.07 swing lower. Any even more gains could lead the rate towards the $72.00 resistance stage in the near expression.
Dips Restricted in LTC?
If litecoin commences a draw back correction, it could uncover a sturdy shopping for curiosity around $65.00. The next big aid for the bulls is close to the $63.00 degree and the highlighted bullish craze line on the hourly chart.
Any even further losses could maybe send the price tag towards the $60.00 assistance or the 100 very simple relocating normal (4-hours) in the around time period. Underneath $60.00, the price tag is probably to move into a bearish zone.
Technical indicators:
4-hrs MACD – The MACD is now attaining momentum in the bullish zone.
4-several hours RSI (Relative Toughness Index) – The RSI for LTC/USD is at this time rising and it is properly higher than the 55 amount.
Key Assistance Levels – $65.00 followed by $63.00.
Important Resistance Stages – $70.00 and $72.00.
