litecoin-could-be-next-in-line-for-surge:-technicals-indicate-push-to-$80

Litecoin Could Be Next In Line For Surge: Technicals Indicate Push To $80

  • Litecoin started a right elevate above the $50.00 and $60.00 resistance ranges against the US Greenback.
  • The worth traded as high as $68.92 and it is currently correcting beneficial properties.
  • There might be a vital bullish fashion line forming with increase shut to $65.20 on the 4-hours chart of the LTC/USD pair (information feed from Kraken).
  • A determined damage above $70.00 might well delivery the doors for a push against the $80.00 resistance.

Litecoin designate is gaining momentum above $65.00 against the US Greenback. LTC is probably going to proceed better against $75.00 or $80.00, the same to bitcoin and ethereum.

Litecoin Trace is Following Uptrend

Within the past few days, litecoin designate started a right elevate above the $55.00 resistance against the US Greenback. LTC designate even settled above the $65.00 resistance and the 100 easy transferring common (4-hours).

A current month-to-month high is fashioned shut to $68.92 and the worth is currently correcting beneficial properties. There was as soon as a damage beneath the $67.00 diploma. The worth even traded beneath the 23.6% Fib retracement diploma of the scorching upward switch from the $58.13 swing low to $68.92 high.

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On the draw back, there is a solid increase forming shut to the $65.20 and $65.00 ranges. There might be moreover a vital bullish fashion line forming with increase shut to $65.20 on the 4-hours chart of the LTC/USD pair.

Litecoin

Litecoin designate above $65.00. Source: TradingView.com

If there is a bearish damage beneath the fashion line, the worth might well test the $63.50 increase. It is miles shut to the 50% Fib retracement diploma of the scorching upward switch from the $58.13 swing low to $68.92 high.

On the upside, the worth is facing a minor hurdle shut to the $68.00 diploma. A successful damage above the $68.00 resistance might well spark a new inch above the $70.00 resistance. The subsequent fundamental hurdle for the bulls is shut to the $80.00 diploma. An intermediate resistance is shut to the $75.50 diploma.

Dips Likely Supported in LTC

If litecoin fails to proceed above the $68.00 resistance, there are potentialities of a draw back correction. On the draw back, the principle fundamental increase is shut to the fashion line and $65.00.

The subsequent key increase is shut to the $63.50 diploma, beneath which there is a risk of an extended decline against the $60.00 address in the coming sessions.

Technical indicators:

4-hours MACD – The MACD is slowly losing tempo in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently correcting lower from the 75 diploma.

Most major Purple meat up Stages – $65.00 adopted by $63.50.

Most major Resistance Stages – $68.00 and $70.00.

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