Litecoin worth declined closely under $150, however it discovered assist close to $115 towards the US Greenback. LTC is presently rising, however it’s prone to face a robust resistance close to $150.
Litecoin began a robust decline under the $165 and $150 assist ranges towards the US Greenback.
The worth is rising from the $115 zone and it’s testing the 100 easy shifting common (4-hours).
Earlier, there was a break under a key ascending channel with assist at $165 on the 4-hours chart of the LTC/USD pair (knowledge feed from Kraken).
The worth should clear the $150 resistance to maneuver again right into a constructive zone.
Litecoin Worth Recovers above $140
Just lately, we noticed a pointy decline in bitcoin, Ethereum, ripple and litecoin towards the US Greenback. LTC worth shaped a short-term prime close to the $185 earlier than beginning the drop. It broke many essential helps close to $165 to maneuver right into a bearish zone.
There was additionally a break under a key ascending channel with assist at $165 on the 4-hours chart of the LTC/USD pair. Litecoin worth even broke the $150 assist and the 100 easy shifting common (4-hours).
There was a spike under the $125 assist earlier than the bulls confirmed close to $115. A low is shaped close to the $113 stage and the worth is presently rising. There was a break above the $125 and $130 ranges. The worth recovered above the 23.6% Fib retracement stage of the downward transfer from the $186 excessive to $113 low.
Supply: LTCUSD on TradingView.com
It’s now approaching the $150 resistance stage and the 100 easy shifting common (4-hours). The 50% Fib retracement stage of the downward transfer from the $186 excessive to $113 low can also be close to $150 to behave as a resistance.
If there’s a clear break above the $150 resistance, the worth might begin a robust enhance. Within the said case, the worth is prone to proceed increased in the direction of the $165 and $170 ranges.
Recent Dip in LTC?
If Litecoin worth fails to clear the $150 resistance stage, there could possibly be one other pullback. An preliminary assist on the draw back is close to the $135 stage.
The primary main assist is forming close to the $132 stage. Any additional losses might maybe ship the worth in the direction of the $124 assist within the coming periods.
Technical indicators:
4-hours MACD – The MACD is slowly shifting into the bullish zone.
4-hours RSI (Relative Power Index) – The RSI for LTC/USD is presently correcting increased in the direction of 50.
Main Assist Ranges – $135 adopted by $124.
Main Resistance Ranges – $150 and $165.
