Litecoin value is gaining momentum above $60.00 in opposition to the US Greenback. LTC is more likely to proceed increased (just like bitcoin) in direction of $70.00 or $75.00 within the close to time period.
- Litecoin began a powerful rally above the $55.50 and $58.00 resistance ranges in opposition to the US Greenback.
- The worth is now buying and selling properly above the $60.00 stage and the 100 easy transferring common (4-hours).
- There was a break above a serious bearish pattern line with resistance close to $54.00 on the 4-hours chart of the LTC/USD pair (information feed from Kraken).
- The bulls appear to be aiming a bigger rally in direction of the $70.00 resistance zone.
Litecoin Value is Gaining Bullish Momentum
This week, bitcoin value began a powerful rally above $14,000 and $15,000, however altcoins lacked momentum. Nevertheless, they began choosing up momentum, and lately, there was a good improve in Ethereum, ripple and litecoin in opposition to the US Greenback.
A robust assist base was shaped close to $52.00 earlier than litecoin value began a powerful rally. There was a break above a serious bearish pattern line with resistance close to $54.00 on the 4-hours chart of the LTC/USD pair.
The pair gained tempo above the $55.00 resistance and 100 easy transferring common (4-hours). It opened the doorways for extra good points above the $60.00 resistance and the worth even climbed above the $60.46 swing excessive. An preliminary resistance is close to the $62.65 stage.
Supply: LTCUSD on TradingView.com
The 1.236 Fib extension stage of the downward transfer from the $60.46 excessive to $51.06 swing low can be close to the $62.68 stage. If there are extra upsides, the worth is more likely to proceed increased in direction of the $70.00 resistance.
An intermediate resistance might be close to $66.50 or the 1.618 Fib extension stage of the downward transfer from the $60.46 excessive to $51.06 swing low.
Dips Seemingly Restricted in LTC
If litecoin fails to proceed above the $62.65 resistance or the $65.00 zone, there are possibilities of a draw back correction. On the draw back, the primary main assist is close to the $60.00 stage.
The primary assist is now forming close to the $58.00 stage, under which there’s a threat of a drop in direction of the $55.00 assist and the 100 easy transferring common (4-hours).
4-hours MACD – The MACD is now gaining tempo within the bullish zone.
4-hours RSI (Relative Energy Index) – The RSI for LTC/USD is at present rising and it’s effectively above the 70 stage.
Main Help Ranges – $60.00 adopted by $58.00.
Main Resistance Ranges – $62.65 and $66.50.