- Litecoin worth fell by virtually 22% prior to now 48 hours after a widespread sell-off.
- LTC bulls are hopeful because the TD Sequential indicator has introduced varied purchase alerts.
Litecoin had a big sell-off prior to now 48 hours following Bitcoin’s bearish run in the direction of $30,000. The complete cryptocurrency market misplaced greater than $100 billion prior to now 24 hours, however LTC may bounce up once more.
Litecoin worth goals for $150 within the short-term
On the 1-hour, 2-hour and 6-hour charts, the TD Sequential has introduced simultaneous purchase alerts which give a number of credence to the bullish outlook. Contemplating the magnitude of the sell-off, bears didn’t have sufficient time to ascertain clear resistance ranges on the way in which down.
LTC Purchase Alerts
Which means Litecoin worth may at the least climb in the direction of $150 because it appears to be the closest fascinating resistance level. The In/Out of the Cash Round Worth (IOMAP) chart appears to point the identical because it reveals crucial resistance space to be situated between $148 and $153.
LTC IOMAP chart
Within the shorter time frame, the Confluence detector reveals a robust resistance degree round $134 which coincides with the earlier hourly excessive and the 10-SMA on the hourly chart. On the way in which down, there’s a strong help degree at $132 the place the hourly 5-SMA and the earlier 15-minutes low converge.
LTC Confluence ranges
Moreover, there may be a fair stronger help degree situated at $131.6 which coincides with the 4-hour decrease Bollinger Band.