LTC: Recover towards USD40?
Litecoin has shown a minor losses this Friday, down just around 0.20%. Litecoin price formed a decent support near $30.00 and recovered against the US Dollar. LTC/USD COULD continue to move higher towards the $36.00, $38.00 or even $40.00 level.
Technically ,it is possible. Near-term resistance is eyed at $33.50, the upper part of the descending wedge. A breakout above, could open a return to $40+. Support is at $30.77, as lowest trend. Should a breach south occur, a fall deep down to $20 territory could come into play.
Yesterday’s highlighted key bearish trend line was breached with resistance at $33.00 on the hourly chart of the LTC/USD pair.
Technically ,it is possible. Near-term resistance is eyed at $33.50, the upper part of the descending wedge. A breakout above, could open a return to $40+. Support is at $30.77, as lowest trend. Should a breach south occur, a fall deep down to $20 territory could come into play.
Yesterday’s highlighted key bearish trend line was breached with resistance at $33.00 on the hourly chart of the LTC/USD pair.
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