Charted: Litecoin Price Daily Timeframe Indicates Strong Uptrend To $65
Litecoin started a strong upward move from the $41.50 support zone against the US Dollar. The price is now trading nicely above the $50.00 level and the 100-day simple moving average. There was a break above a crucial bearish trend line with resistance near $48.90 on the daily chart of the LTC/USD pair (data feed […]
Litecoin began a solid upward move from the $41.50 uphold zone against the US Dollar. The cost is presently exchanging pleasantly over the $50.00 level and the 100-day basic moving normal. There was a break over a significant bearish pattern line with opposition close $48.90 on the every day diagram of the LTC/USD pair (information feed from Kraken). The bulls appear to point a bigger upward move towards the $60.00 and $65.00 levels. Litecoin cost is picking up force above $55.00 against the US Dollar. LTC is probably going to proceed with higher towards $60.00 or $65.00 as long all things considered over the 100-day SMA. Litecoin Price is Forming Strong Uptrend Recently, the crypto market picked up foothold, and there was a solid increment in bitcoin, Ethereum, swell and litecoin against the US Dollar. Prior, LTC framed a solid help over the $41.50 on the every day time span before gazing the current increment. There was a reasonable break over the $48.00 and $50.00 obstruction levels. There was additionally a break over a vital bearish pattern line with opposition close $48.90 on the every day diagram of the LTC/USD pair It opened the entryways for additional potential gains over the $52.00 level and the 100-day straightforward moving normal. Litecoin even move over the $55.00 level, and it is presently trying the half Fib retracement level of the descending move from the $69.02 high to $41.68 low. Source: LTCUSD on TradingView.com The following significant opposition is close the $58.80 level. It is near the 61.8% Fib retracement level of the descending move from the $69.02 high to $41.68 low. The following key opposition is close the $60.00 level, above which the cost is probably going to flood towards the $65.00 and $68.00 levels in the close to term. Dunks Likely Supported in LTC If litecoin neglects to proceed over the $56.00 opposition or the $58.80 zone, there are odds of a drawback rectification. On the disadvantage, the primary significant help is close the $52.00 level. The principle uphold is presently shaping close the $50.00 level and the 100-day basic moving normal. Any further misfortunes may change the pattern and the cost may jump towards $45.00 or even $41.50 in the coming days. Specialized pointers: 4-hours MACD – The MACD is giving positive indications in the bullish zone. 4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is right now rising and it is well over the 60 level. Significant Support Levels – $52.00 followed by $50.00. Significant Resistance Levels – $58.80 and $60.00.