Litecoin – Litecoin Struggles to Break $ 90 Resistance, Excessive $ 100 Eyes
01 December 2020 at 11:30 // Information
Litecoin continued to have a formidable bull run following the November 26 crash. Patrons are testing the resistance at $ 90 again.
Within the first bullish trend, LTC was pushed back due to strong promotion stress. Within the previous uptrend, the altcoin has fallen from an excessive low of $ 90 to $ 65. Currently, if consumers can push LTC above $ 90, a rally to $ 100 is expected.
However, if consumers fail to beat the $ 90 resistance, the crypto will likely be forced into a side transfer. In different phrases, the coin will likely fluctuate between $ 65 and $ 90 for a number of days. Meanwhile, consumers are struggling to break the $ 90 resistance phase. During the first test, a pullback occurred. Resistance tends to weaken after a series of repetitions. Meanwhile, Litecoin is buying and selling for $ 89.23 at the time of writing.
Rating of the Litecoin indicator
The price bars are above the SMA and the resistance line of the ascending channel. This gives the appearance of a further upward movement of the coin. The cryptocurrency is in the 64th phase of the relative energy index range 14. It means the coin is inside the uptrend zone and above the 50 center line.
Key Resistance Ranges: $ 80, $ 100, $ 120
Key Guide Intervals: $ 50, $ 40, $ 20
What is the next transfer for Litecoin?
The altcoin is moving upwards. The Fibonacci tool indicated an upward movement of the coin. On November 24 uptrend; the retracement candle physicist looked at the 61.8% Fibonacci retracement phase. The retracement indicates that Litecoin will rise and reach the 1.618 Fibonacci extension stage. The coin is expected to reach a surplus of $ 104.78.
Disclaimer. This assessment and prediction are the creator’s private opinions which are not a suggestion for buying or promoting cryptocurrency and should not be regarded as an endorsement by CoinIdol. Readers should do their own analysis before investing funds.
