Litecoin Positive Breakout Arriving To Critical Resistance Point With Strong Positive Hopes

  • Litecoin positive momentum is now close to the critical resistance area ranging from $75.00 to $80.00 with the help of weekly gain reaching around 27.00%
  • However, the LTC/BTC pair turns negative, facing a loss of -2.61%, bringing the current level down to 0.00416025 BTC 
ltc1
Source: Tradingveiw

Litecoin’s price levels have now given a positive breakout from the symmetrical triangular pattern in the form of breaking above the crucial mark of $60.00, breaking the strong consolidation. The major support point of $50.00 also provided a slight push in the bullish run. The CMP is now placed at $73.65, having an overall gain of 3.36% over the day. 

LTC2
Source: Tradingveiw

The price levels have broken above its first target of $72.00, providing a positive breakout from the current bullish rally within the ascending triangle area. If the crypto asset sustains the bullish move for a longer duration, the price levels can be heading towards the next target and resistance area of $102.00

ltc3
Source: Tradingveiw
- Advertisement -

The moving average convergence & divergence (MACD) levels gave a bullish crossover amid the positive breakout providing support to the positive move. 

The stochastic RSI (Stoch RSI) also showcases strength as the positive sentiment towards the coin increases significantly with K% stands at 77.72 while D% stands below 65.08. 

ltc4
Source: Tradingveiw

On the moving averages of Litecoin, EMA-20 has managed to give a positive crossover against EMA-50 and EMA-100, reflecting the strong bullish sentiment prevailing in the crypto asset from the past few trading sessions. It can also be acting as a new support line for the current price levels, which can provide sustainability. 

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Krystian Bielanskihttp://www.thecoinrepublic.com
Krystian is a crypto trader and investor with a background in IT based in Hong Kong. He specialises in technical and fundamental analysis working closely with chartist and algo programmers.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Partners