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Litecoin Prints Bullish Breakout, Why LTC Could Surpass $65

Litecoin Prints Bullish Breakout, Why LTC Could Surpass $65

November 13, 2020
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Litecoin Prints Bullish Breakout, Why LTC Could Surpass $65

coinnewsdaily by coinnewsdaily
November 13, 2020
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Litecoin Prints Bullish Breakout, Why LTC Could Surpass $65
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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).

Litecoin Price

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.

Tags: CryptocurrenciesLitecoinLitecoin/US Dollar FX Spot Rate, FX Spot Rate, COMPOSITE DISPLAYLTC
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