Litecoin price analysis: this enthusiasm for bulls has obstacles

  • Litecoin breaks into short-term rankings
  • The medium and long-term charts show resistance that will not be easy.

Litecoin's bulls have a smile on their faces after they have managed to get out of a downtrending trend on the short-term chart, but this breakup is short-term and would prove difficult to sustain after a point where more resistance strong in the medium term will prove difficult to cross and support.

LTC / USD increased by more than 4% day to $ 60.72, almost to the highest point of the day after it broke late on Saturday on the 60-minute chart, a downtrend line and has more upside left in this rally in progress.

Difficulty would be looking at the faces of the bulls once they reach $ 65, here comes another down-trend trend line on 240-minute charts when the bulls will need momentum and key news to be in their favor to cross and gather further, otherwise fatigue will be reduced to this manifestation.

LTC / US D 60-minute chart:

LTC / USD 240-minute chart:

Get the 5 most predictable currency pairs

Source link