Litecoin (LTC) has struggled towards Tether (USDT) as bulls proceed to push the worth above the important thing assist area, forming a bullish chart sample. Bitcoin’s (BTC) worth has proven much less steam in comparison with latest occasions; this has affected most crypto belongings, together with the worth of Litecoin (LTC). (Knowledge from Binance)
Litecoin (LTC) Worth Evaluation On The Weekly Chart
Litecoin (LTC) worth has proven a lot energy after hitting a low of $42; the worth bounced off from this area and rallied to $55.
The value of LTC rallied to a excessive of $65 however was rejected as this proved to be a resistance for LTC on the weekly chart.
LTC worth dropped to a area of $50, forming weekly assist to carry off the worth from promoting off. The value of LTC has continued to carry above assist and construct momentum to interrupt above this area.
The value of LTC is presently buying and selling under its resistance, stopping the worth from trending larger. If the LTC worth can’t break previous this resistance of $57, we may see the worth revisiting the assist area at $50, performing as a requirement zone for many buyers.
Weekly resistance for the worth of LTC – $57.
Weekly assist for the worth of LTC – $50.
Worth Evaluation Of BTC On The Day by day (1D) Chart
After falling from a excessive of $400, the worth of LTC on the each day timeframe has fashioned an ascending triangle indicating a possible worth reversal could possibly be imminent.
The value of LTC discovered its each day low at $40; as the worth bounced off from that area, LTC’s worth has remained sturdy, buying and selling above $50, not permitting bears to take the worth decrease.
Regardless of being rejected just lately from the $60 mark, LTC worth has proven nice bullish energy ranging within the ascending triangle and holding above its trendline assist area.
The value of LTC is buying and selling at $54 under the each day 50-day and 200-day Exponential Shifting Common (EMA).
The 50 EMA corresponds to the worth of $57, performing as a resistance for the worth of LTC to pattern larger. If the LTC worth breaks and holds above the $57 similar to the 50 EMA, we may see the worth trending larger to a area of $60, performing as one other key assist.
Day by day (1D) resistance for the LTC worth – $57-$60.
Day by day (1D) assist for the LTC worth – $50.
Worth Evaluation Of LTC On The 4-Hourly (4H) Chart
The value of LTC on the 4H chart has continued to look bullish, buying and selling in an uptrend channel, attempting to carry above the trendline assist space. BTC worth presently trades above the 50 EMA on the 4H chart.
After forming an uptrend bullish bias on the 4H chart, the worth of LTC has continued to commerce above this trendline as a break under this trendline performing as assist would invalidate the setup.
LTC worth trades above the 50 EMA however under the 200 EMA, performing as resistance for LTC costs. The value of $55 and $57 corresponds to the values of fifty and 200 EMA.
The Relative Power Index (RSI) for LTC on the 4H chart is above 50, indicating reasonable purchase order quantity for the LTC worth.
4-Hourly (4H) resistance for the LTC worth – $57-$60.
4-Hourly (4H) assist for the LTC worth – $50.
Featured Picture From zipmex, Charts From TradingView.com