Cryptocurrencies have benefited this year from everything that happened with the coronavirus and the economic recession, which seems to be returning this winter, after the new blocks in the West. BITCOIN rose to $ 19,500 while LITECOIN rose above $ 90.
However, Bitcoin buyers surrendered below the big round level at $ 20,000 on Wednesday and withdrew more than $ 3,000 in the following days. This pushed other cryptocurrencies down, and Litceoin lost about 25% of its value, dropping to $ 67.
But the 20 SMA (gray) was waiting to provide support on the daily chart and the decline stopped right there. The $ 67 level was the high form in September and now it looks like it has moved from resistance to support. My colleague Arlsan opened a buy signal of Litecoin and now the price has turned bullish, trading more than $ 10 more, so let’s hope the rebound continues to the upside.
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