- LTC moved greater yesterday.
- LTC/USD set to retrace to $150.
- $120 assist nonetheless holds.
Litecoin price evaluation is bullish in the present day as bullish momentum has returned the market above the $120 assist and bulls put together to push the market in direction of $150 resistance. Due to this fact, we anticipate additional upside for LTC/USD over the subsequent 24 hours.
The general market trades with more and more extra bullish value motion over the past 24 hours. Bitcoin is up by virtually 1.5 p.c, whereas Ethereum with a damaging -0.44 p.c. Tron (TRX) is among the many greatest performers, with a achieve of 20 p.c.
Litecoin value motion within the final 24 hours
LTC/USD traded in a spread of $123 – $135, indicating a superb quantity of volatility over the past 24 hours. Buying and selling quantity has decreased by 42 p.c and totals $2 billion. In the meantime, the overall market cap stands at $8.94 billion, rating cryptocurrency in thirteenth place general.
LTC/USD 4-hour chart – LTC prepares to spike in direction of $150?
On the 4-hour chart, we are able to see the Litecoin value slowly trending greater once more to regain the extreme loss seen over the previous days.
The general Litecoin value motion construction has turned much more bearish over the previous few days. LTC spent the previous weeks shifting sideways after rebounding to the $200 resistance from the $120 assist, which resulted in a buying and selling vary of round $150-$180.
On the twentieth of June, Litecoin spiked decrease and moved in direction of the $120 earlier main assist. A quick breakthrough was seen, with a restoration shortly after again above the assist. This has led LTC in direction of additional upside over the previous 24 hours as bulls need to retest the $150 mark as a resistance.
As soon as the $150 resistance is examined, we are able to anticipate LTC/USD to reverse and begin shifting decrease once more to set one other decrease low together with the present bearish momentum. Nevertheless, if Litecoin value fails to breach the $120 mark and established a better low, we are able to anticipate LTC/USD to begin buying and selling greater over the subsequent few days.
On this situation, the market would flip bullish as soon as the present main resistance at $180 is damaged. Till then, it’s best to attend for additional value motion improvement.
Litecoin Value Evaluation: Conclusion
Litecoin value evaluation is bullish for the subsequent 24 hours because the $120 assist was regained and LTC/USD moved greater over the previous 24 hours. This value motion improvement ought to lead LTC to retest the earlier main assist at $150 as resistance. From there, we must always see one other transfer decrease later this month.
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