The market worth of Litecoin has successfully breached to the north above the critical resistance of $240 during yesterday’s trading session. The last time that the crypto attempted was on March 13 when the resistance line was only tested.
Resistance levels: $280, $300, $320
Support levels: $200, $1800, $160
LTCUSD – Daily Chart
On the LTC/USD daily trading charts a large bullish candlestick has emerged to possibly signal the long-awaited northward pursuit. The 14-day SMA trend is a little curved northward to indicate that the bullish trend is moving upward. The oscillators of Stochastic move around a range of 80 in consolidation. Now, however, they are more northward to cross the hair. It shows that in this crypto-trading activity there will continually be more purchasing pressures.
The LTC and USD bulls are most likely to push easily further north when a strong push comes over the key resistance trading line of 240 dollars. The big spike was on the $220 support line to make a $260 buy-in wall. Price is trading at the level at the moment. More potential ups are expected in close proximity to the long spike.
Regarding this crypto-downward economy’s trade move, bären will have to wait for price convergences to form in a higher trading area later. There is a strong bull-shaped candlestick in the shape to exert your sell-place order.It is important to note that the current northward trend must be treated with extreme care in a bizarre business perspective.
LTC/BTC Price Analysis
While some cryptos push against the most valued crypto price, there are still relatively low overall market trend views between LTC and BTC. In the daily trading chart, the base cryptograph has a very long way to go with the counter crypto in terms of purchasing power. Litecoin appears, however, to have begun its journey, as all the indicators northward have gone by. The SMA trend line for 14 days is now northwards below the SMA trend line for 50 days. The Stochastic Oscillators move around 80 ranges closer to the overbought region in a consolidated way.