#Litecoin Strongly Rejects Bears, LTC Uptrend Anchored At $65
Past Performance of Litecoin
Litecoin is up 24% in the past three days, tracking higher, and aligning with the primary trend. Buyers are in control, bottoming from recent lows, a bullish development for holders. In the short term, the coin has support at $65. Meanwhile, resistance lies at around $90.
#Litecoin Technical Analysis
The path of least resistance is, from a top-down preview, northwards. From the daily chart, there is a double-bar bullish formation. Specifically, the bull bar of March 12 is bullish engulfing and with rising volumes. Subsequent confirmation yesterday solidifies the bullish outlook. Per this formation, traders can load the dips, targeting $90 in the short term. This preview will only change should LTC drop below $65, the 78.6% Fibonacci retracement level of the November to February 2023 range. Losses below this line may see the coin fall to Q4 2022 lows.
What to Expect From #LTC?
Traders are bullish, and LTC prices may continue inching higher in the short term. The next target is at $90, flashing with February 2023 lows. Further gains may see Litecoin expand above the February range to print new Q1 2023 highs.
Resistance level to watch out for: $90
Support level to watch out for: $65
Disclaimer: Opinions expressed are not investment advice. Do your research.
Litecoin is up 24% in the past three days, tracking higher, and aligning with the primary trend. Buyers are in control, bottoming from recent lows, a bullish development for holders. In the short term, the coin has support at $65. Meanwhile, resistance lies at around $90.
#Litecoin Technical Analysis
The path of least resistance is, from a top-down preview, northwards. From the daily chart, there is a double-bar bullish formation. Specifically, the bull bar of March 12 is bullish engulfing and with rising volumes. Subsequent confirmation yesterday solidifies the bullish outlook. Per this formation, traders can load the dips, targeting $90 in the short term. This preview will only change should LTC drop below $65, the 78.6% Fibonacci retracement level of the November to February 2023 range. Losses below this line may see the coin fall to Q4 2022 lows.
What to Expect From #LTC?
Traders are bullish, and LTC prices may continue inching higher in the short term. The next target is at $90, flashing with February 2023 lows. Further gains may see Litecoin expand above the February range to print new Q1 2023 highs.
Resistance level to watch out for: $90
Support level to watch out for: $65
Disclaimer: Opinions expressed are not investment advice. Do your research.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.