Litecoin value is forming a momentary base at $140 towards the United States Dollar. LTC/USD is prone to business upper and it might business in opposition to the $160-165 resistance.
Key Talking Points
- Litecoin value is slowly shifting upper after forming a tight enhance base at $140 (Data feed of Kraken) towards the United States Dollar.
- There used to be a wreck above a connecting bearish pattern line with resistance at $152 at the hourly chart of the LTC/USD pair.
- The pair is positioned well for extra positive aspects nowadays in opposition to the $160 and $165 ranges.
Litecoin Price Forecast
The previous 2-Three periods have been most commonly certain for litecoin value above the $120 pivot stage towards the United States greenback. The LTC/USD pair shaped a just right enhance across the $138-140 ranges and began an upside transfer above $145.
During the upside transfer, it broke the 23.6% Fib retracement stage of the ultimate decline from the $169.71 prime to $140.91 low. It opened the doorways for additional positive aspects and the associated fee used to be in a position to transport above the $150 stage and the 100 hourly easy shifting moderate.
More importantly, there used to be a wreck above a connecting bearish pattern line with resistance at $152 at the hourly chart of the LTC/USD pair. The pair is now positioned well above the $150 stage and the 100 hourly SMA.
At the instant, the associated fee is checking out the 50% Fib retracement stage of the ultimate decline from the $169.71 prime to $140.91 low. Once there’s a right kind shut above the mentioned Fib stage, the associated fee may just proceed to transport upper in opposition to the $160 and $165 resistance ranges.
Above the $165 stage, litecoin value can even retest the ultimate swing prime of $169. On the drawback, the 100 hourly SMA and the $150 stage are respectable helps.
Below $150, the following main enhance is round $140, which acted as a just right purchase zone on many events. The present value motion is certain and it kind of feels like LTC/USD might possibly business in opposition to $165 and even $169.
Trade secure buyers and don’t overtrade!
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