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Litecoin Price Analysis: LTC/USD Consolidating above $135

Litecoin worth is buying and selling in a small vary above the $135 help towards the US Dollar. LTC/USD could decline within the quick time period, however the development continues to be optimistic.

Key Talking Points

  • Litecoin worth is buying and selling in a optimistic zone and is at present buying and selling above the $135.00 help (Data feed of Kraken) towards the US Dollar.
  • The LTC/USD pair is at present making an attempt a short-term draw back break under a bullish development line at $144.00 on the hourly chart.
  • The pair could decline a couple of factors, however there are various helps on the draw back reminiscent of $135.00 and $125.00.

Litecoin Price Forecast

There was no main upside transfer in litecoin worth through the previous two classes above $150.00 towards the US greenback. The LTC/USD pair largely traded in a minor vary and stayed above a significant help space at $135.00.

After buying and selling as excessive as $159.55, the pair began a draw back correction. It declined in direction of $135.00 and examined the 38.2% Fib retracement degree of the final upside leg from the $103.22 low to $159.55 excessive.

Litecoin Price Analysis: LTC/USD Consolidating above $135

The pair examined the 100 hourly easy shifting common and succeeded in staying above the $135.00 help. It bounced again, but it surely failed to maneuver above the $150.00 resistance space.

There was a contemporary draw back wave and the pair is at present making an attempt a short-term draw back break under a bullish development line at $144.00 on the hourly chart. If the latest break is true, there’s a probability that the pair could retest the $135.00 help and the 100 hourly SMA.

Litecoin worth should keep above the $135.00 help else there’s a threat of extra declines could also be in direction of the 61.eight% Fib retracement degree of the final upside leg from the $103.22 low to $159.55 excessive at $125.00.

On the upside, LTC/USD must clear a bearish development line with present resistance at $146.00 on the identical chart. However, consumers have to push the value above $150.00 and $155.00 for additional features within the close to time period.

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