LTCUSDT 1HLTCUSDT on the daily chart:
The price of #LTC has been trading above the MA200 since the 2nd of November, just when it broke the accumulative triangular figure, which broke upwards.
The bulls are in charge
We can also observe the RSI with extreme exhaustion of selling forces.
LTC IN THE DIARY
On the 1h Chart, LTC will yield and seek the gravitational center of that thickest sector in the projection of the Ichimoku Cloud, but before that it should retreat to the VWAP region at 87.19.
Supports and resistances follow, risk management must be applied, with some small and quick profit takings, as in addition to the beginning of the weekend, the FED is ready to increase the basic interest rate by 0.25% and this should have an impact the market.
Main support levels: 87.21 / 86.19
Main Resistance Levels: 88.14 / 88.53
MM200: At the height of $87.88
RSI: Exhaustion of Buying Forces
It is worth remembering that Litecoin will be halved in August and the reward for a mined block will be reduced. This has happened twice before with LTC, in 2015 and 2019, and both times the price of the coin has risen sharply.
