Litecoin worth is forming a momentary base at $140 in direction of the United States Dollar. LTC/USD is liable to enterprise higher and it would enterprise in opposition to the $160-165 resistance.
Key Talking Points
- Litecoin worth is slowly shifting higher after forming a good improve base at $140 (Data feed of Kraken) in direction of the United States Dollar.
- There was once a wreck above a connecting bearish sample line with resistance at $152 on the hourly chart of the LTC/USD pair.
- The pair is positioned effectively for further optimistic elements these days in opposition to the $160 and $165 ranges.
Litecoin Price Forecast
The earlier 2-Three durations have been mostly sure for litecoin worth above the $120 pivot stage in direction of the United States dollar. The LTC/USD pair formed a excellent improve throughout the $138-140 ranges and started an upside switch above $145.
During the upside switch, it broke the 23.6% Fib retracement stage of the last word decline from the $169.71 prime to $140.91 low. It opened the doorways for added optimistic elements and the related payment was once ready to move above the $150 stage and the 100 hourly simple shifting average.
More importantly, there was once a wreck above a connecting bearish sample line with resistance at $152 on the hourly chart of the LTC/USD pair. The pair is now positioned effectively above the $150 stage and the 100 hourly SMA.
At the moment, the related payment is testing the 50% Fib retracement stage of the last word decline from the $169.71 prime to $140.91 low. Once there’s a proper shut above the talked about Fib stage, the related payment may proceed to move higher in opposition to the $160 and $165 resistance ranges.
Above the $165 stage, litecoin worth may even retest the last word swing prime of $169. On the disadvantage, the 100 hourly SMA and the $150 stage are respectable helps.
Below $150, the next essential improve is spherical $140, which acted as a excellent buy zone on many occasions. The current worth movement is for certain and it seems like LTC/USD would possibly probably enterprise in opposition to $165 and even $169.
Trade safe patrons and don’t overtrade!
This article was once first and firstly printed at following web site on-line – Source link . All the content material materials and copyrights belong to their genuine authors.