Litecoin worth is gaining momentum above $62.00 in opposition to the US Greenback. LTC is prone to proceed greater (much like bitcoin), and it might even break the $65.00 resistance within the close to time period.
- Litecoin shaped a powerful help 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 stage and the 100 easy transferring 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 prone to proceed greater above the $64.00 and $65.00 resistance ranges.
Litecoin Value Begins Contemporary Improve
This week, bitcoin price gained tempo above the $15,500 and $16,000 resistance stage, sparking optimistic strikes in altcoins. Litecoin carried out rather well, and it began a good upward transfer after forming a help base close to the $57.00 stage.
LTC worth 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 stage 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 worth is now buying and selling properly above the $60.00 stage and the 100 simple moving average (4-hours).
Supply: LTCUSD on TradingView.com
A right away resistance is close to the $63.00 stage or the 76.4% Fib retracement stage 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 stage.
The principle resistance is close to the $65.00 stage. A profitable break and shut above the $65.00 resistance might maybe open the doorways for a good enhance in the direction of the $70.00 resistance.
Dips Seemingly Restricted in LTC
If litecoin fails to proceed above the $63.00 resistance or the $65.00 zone, there are possibilities of a draw back correction. On the draw back, the primary main help is close to the $60.00 area (the latest breakout zone).
The principle help is now forming close to the $57.00 stage and the 100 easy transferring common (4-hours), beneath which the worth might take a look at $55.00.
Technical indicators:
4-hours MACD – The MACD is now gaining momentum within the bullish zone.
4-hours RSI (Relative Power Index) – The RSI for LTC/USD is presently rising and it’s nicely above the 50 stage.
Main Help Ranges – $60.00 adopted by $57.00.
Main Resistance Ranges – $63.00 and $65.00.
