Home / Today Tech / Litecoin Price Analysis: LTC/USD Retreats From $160-165

Litecoin Price Analysis: LTC/USD Retreats From $160-165

Litecoin worth traded higher and examined the $165 resistance in the direction of the USA Dollar. LTC/USD found sellers and is these days shopping for and promoting lower in opposition to $145.

Key Talking Points

  • Litecoin worth obtained upside momentum and traded above the $160 stage (Data feed of Kraken) in the direction of the USA Dollar.
  • There was once a wreck beneath an ascending channel with reinforce at $158 on the hourly chart of the LTC/USD pair.
  • The pair is liable to enterprise lower inside the fast time interval in opposition to the $145 and $140 reinforce ranges.

Litecoin Price Forecast

Yesterday, we talked about that litecoin worth could enterprise above the $150 stage in the direction of the USA buck. The LTC/USD pair even traded above the $160 resistance, but it surely absolutely was once not able to retain momentum above the mentioned stage.

A high was once formed near $163.66 and it seems identical to the $160-165 resistance zone as quickly as as soon as extra prevented constructive components. The pair moved down and broke the 23.6% Fib retracement stage of the last word wave from the $140.90 low to $163.66 high.

Litecoin Price Analysis: LTC/USD Retreats From $160-165
Cryptocurrency charts and prices outfitted by way of TradingView

The most important wreck was once beneath an ascending channel with reinforce at $158 on the hourly chart of the LTC/USD pair. It has opened the doorways a latest downside wave from $163.66.

The pair is these days shopping for and promoting near the $155 stage and the 100 hourly simple shifting average. It could shortly wreck the $150 stage and enterprise further lower. An speedy reinforce is throughout the 50% Fib retracement stage of the last word wave from the $140.90 low to $163.66 high.

However, if the brand new wreck is appropriate, there’s a probability that litecoin worth would possibly retest the $145 reinforce stage. Below the $140 reinforce, the payment could even retest the last word swing low of $140.90, which is a giant reinforce home.

On the upside, an preliminary resistance is near the $158-160 stage. Above $160, LTC/USD could as quickly as as soon as extra attempt to switch above the $165 stage. In the short time interval, the payment could decline and retest the $145 reinforce stage, adopted by way of a check out of $140.00.

Trade protected consumers and don’t overtrade!

This article was once first and at first printed at following website – Source link . All the content material materials and copyrights belong to their genuine authors.

Source link


Source link

Build a better website in under an hour. Start for free at GoDaddy!

About todaytechlife

Check Also

10 top tips to make sure your startup’s first hire is fire

When it comes to rising your startup, research has discovered that hiring is one of many …

Leave a Reply

Your email address will not be published. Required fields are marked *

FatCow $3.15/mo.Plan

Powered by keepvid themefull earn money