The bullish peak remains above $ 30.00 on the upside of the market

• The current gains come after a period of devastating decline since November.
• Litecoin is trading at $ 31.43 after hitting a bind at $ 32.00.

Many refrain from referring to the current bullish trend as an upward trend. However, virtual resources like Bitcoin Cash and IOTA have recorded gains of 32% and 11% respectively on Thursday. Litecoin has not been left behind in recent gains, it also shows a 7% growth over the day.

Earnings come after a period of devastating decline since November. The recent sale was one of the worst on the market this year. The total market capitalization has fallen below $ 100 billion as both the coins and the altcoins have fallen to the lows of 2018.

For Litecoin, the resource reached a minimum of $ 22.5 (historical low) before the upward correction started this week. The jump over the resistance of the trendline that had blocked gains for a while has triggered further recoil above simple moving averages. There was a fight around $ 30.00, however, the bulls pushed for gains above the 38.2% level of Fibra, taken between the highs of $ 52.26 and $ 22.5 lows. .

Litecoin is trading at $ 31.43 after hitting a bind at $ 32.00. Technical levels are still positive, which means that Litecoin will support growth of more than $ 30.00. The gap between the 50 SMA and the long-term 100 SMA is decreasing as the bulls increase revenue. The RSI is returning above 70 while the MACD is rising. Although Litecoin's bulls may not have the momentum to reach $ 40.00, they have the power to prevent declines below $ 30.00 in the short term.

4-hour LTC / USD chart