Litecoin worth gained traction and examined the $150 resistance in opposition to the US Greenback. LTC/USD stays in a strong uptrend and it may commerce previous $150.
Key Speaking Factors
- Litecoin worth made a pleasant upside transfer and traded to a brand new month-to-month excessive at $150.64 (Information feed of Kraken) in opposition to the US Greenback.
- This week’s highlighted essential bullish pattern line with help at $145 remains to be in place on the hourly chart of the LTC/USD pair.
- The pair is presently correcting decrease, however it stays supported on the draw back close to $140-145.
Litecoin Value Forecast
Yesterday, we discussed about more gains above $140 in litecoin worth in opposition to the US greenback. The LTC/USD pair remained in a bullish zone and broke the $140 and $145 resistance stage.
It examined the $150 resistance stage and shaped a brand new month-to-month excessive at $150.64. Later, there was a draw back correction and the worth traded beneath the 23.6% Fib retracement stage of the final wave from the $133.90 low to $150.64 excessive.
Nonetheless, the decline was protected by the $144-145 help zone. Extra importantly, this highlighted essential bullish pattern line with help at $145 remains to be in place on the hourly chart of the LTC/USD pair.
The pair examined the 38.2% Fib retracement stage of the final wave from the $133.90 low to $150.64 excessive. The $144-145 help space performed nicely, and because of this, the worth resumed its upside.
In the intervening time, the worth is buying and selling close to the $147 stage, with a right away resistance close to the $150 stage. As soon as there’s a profitable hourly shut above the acknowledged $150 resistance, LTC worth will most definitely speed up larger in direction of the $155 stage.
Above the talked about $155 stage, the $158-160 zone is more likely to act as a promote space within the close to time period. On the flip facet, the $145 help area is a really essential for the present uptrend.
If there’s a draw back break and shut beneath the $145 and $144 help ranges, the worth may check the $140 pivot stage.
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