Strong resistance to stem the bullish rally?

• Litecoin is currently in the midst of a bullish rally.
• According to the detector, there are two strong resistance walls at $ 62 and $ 63.35.

Litecoin has seen a bullish rally, rising from $ 38 to $ 61.50 over the past three days. However, the top 10 cryptocurrencies are currently facing strong resistance ahead. Let’s see how far the price will go.

LTC faces severe resistance

During the latest bullish rally, buyers reversed the $ 59.30 line from resistance to support. Looking at the price history, this is one of the most important levels, so it should be robust enough to stem any downward flow.

LTC / USD daily chart

The confluence detector helps us visualize healthy resistance and supporting walls. According to the detector, if the price manages to break out of the $ 62 resistance, it will encounter another strong resistance at $ 63.35, which limits any further upward movement for now. If buyers break through this wall, they should hit $ 65. On the downside, we have two healthy supports at $ 59.40 and $ 56.75.

Daily LTC / USD Confluence Detector

For buyers, the goal will be to break LTC past the aforementioned resistance walls and hit $ 65. On bears, the downside is protected by these two healthy support walls. A break below the $ 56.75 line takes the price up to the 100-day SMA ($ 53.25).