Litecoin value declined closely beneath $150, nevertheless it discovered assist close to $115 in opposition to the US Dollar. LTC is at the moment rising, however it’s more likely to face a powerful resistance close to $150.
- Litecoin began a powerful decline beneath the $165 and $150 assist ranges in opposition to the US Dollar.
- The value is rising from the $115 zone and it’s testing the 100 easy shifting common (4-hours).
- Earlier, there was a break beneath a key ascending channel with assist at $165 on the 4-hours chart of the LTC/USD pair (knowledge feed from Kraken).
- The value should clear the $150 resistance to maneuver again right into a constructive zone.
Litecoin Price Recovers above $140
Recently, we noticed a pointy decline in bitcoin, Ethereum, ripple and litecoin in opposition to the US Dollar. LTC value shaped a short-term high close to the $185 earlier than beginning the drop. It broke many necessary helps close to $165 to maneuver right into a bearish zone.
There was additionally a break beneath a key ascending channel with assist at $165 on the 4-hours chart of the LTC/USD pair. Litecoin value even broke the $150 assist and the 100 easy shifting common (4-hours).
There was a spike beneath the $125 assist earlier than the bulls confirmed close to $115. A low is shaped close to the $113 degree and the value is at the moment rising. There was a break above the $125 and $130 ranges. The value recovered above the 23.6% Fib retracement degree of the downward transfer from the $186 excessive to $113 low.
Source: LTCUSD on TradingView.com
It is now approaching the $150 resistance degree and the 100 easy shifting common (4-hours). The 50% Fib retracement degree of the downward transfer from the $186 excessive to $113 low can be close to $150 to behave as a resistance.
If there’s a clear break above the $150 resistance, the value might begin a powerful enhance. In the acknowledged case, the value is more likely to proceed larger in direction of the $165 and $170 ranges.
Fresh Dip in LTC?
If Litecoin value fails to clear the $150 resistance degree, there could possibly be one other pullback. An preliminary assist on the draw back is close to the $135 degree.
The first main assist is forming close to the $132 degree. Any additional losses might maybe ship the value in direction of the $124 assist within the coming classes.
4-hours MACD – The MACD is slowly shifting into the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is at the moment correcting larger in direction of 50.
Major Support Levels – $135 adopted by $124.
Major Resistance Levels – $150 and $165.