Litecoin Prints Bullish Breakout, Why LTC Could Surpass $65

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining


Litecoin price is gaining momentum above $62.00 against the US Dollar. LTC is likely to continue higher (similar to bitcoin), and it could even break the $65.00 resistance in the near term.

  • Litecoin formed a strong support base near $57.00 and started a fresh increase against the US Dollar.
  • The price is now trading nicely above the $60.00 level and the 100 simple moving average (4-hours).
  • There was a break above a major contracting triangle with resistance near $60.00 on the 4-hours chart of the LTC/USD pair (data feed from Kraken).
  • The price is likely to continue higher above the $64.00 and $65.00 resistance levels.

Litecoin Price Starts Fresh Increase

This week, bitcoin price gained pace above the $15,500 and $16,000 resistance level, sparking positive moves in altcoins. Litecoin performed really well, and it started a decent upward move after forming a support base near the $57.00 level.

LTC price broke the $58.50 and $60.00 resistance levels to move into a positive zone. There was a break above the 50% Fib retracement level of the downward move from the $64.92 swing high to $57.00 swing low.

Moreover, there was a break above a major contracting triangle with resistance near $60.00 on the 4-hours chart of the LTC/USD pair. Litecoin price is now trading nicely above the $60.00 level and the 100 simple moving average (4-hours).

Source: LTCUSD on TradingView.com

An immediate resistance is near the $63.00 level or the 76.4% Fib retracement level of the downward move from the $64.92 swing high to $57.00 swing low. The first major resistance is near the $64.00 level.

The main resistance is near the $65.00 level. A successful break and close above the $65.00 resistance may perhaps open the doors for a decent increase towards the $70.00 resistance.

Dips Likely Limited in LTC

If litecoin fails to continue above the $63.00 resistance or the $65.00 zone, there are chances of a downside correction. On the downside, the first major support is near the $60.00 region (the recent breakout zone).

The main support is now forming near the $57.00 level and the 100 simple moving average (4-hours), below which the price could test $55.00.

Technical indicators:

4-hours MACD – The MACD is now gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently rising and it is well above the 50 level.

Major Support Levels – $60.00 followed by $57.00.

Major Resistance Levels – $63.00 and $65.00.

Source link

Free Bitcoins: FreeBitcoin | BonusBitcoin

Coins Kaufen: Bitcoin.deAnycoinDirektCoinbaseCoinMama (mit Kreditkarte)Paxfull

Handelsplätze / Börsen: Bitcoin.de | KuCoinBinanceBitMexBitpandaeToro

Lending / Zinsen erhalten: Celsius NetworkCoinlend (Bot)

Cloud Mining: HashflareGenesis MiningIQ Mining

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close