Past Performance of Litecoin
Litecoin remains within a bullish breakout formation, doubling in the past six months. The coin is within a breakout formation at spot rates, clearing critical resistance levels. Accordingly, buyers have re-established themselves, setting the base for a possible recovery.
#Litecoin Technical Analysis
At spot rates, LTC is up 67 percent from November lows, reversing losses of early November 2022. Because of this, buyers have the upper hand. Subsequently, every low above $70, flashing with November highs, presents a loading opportunity for aggressive traders. This bullish preview holds considering the failure of sellers to push back prices, reversing gains made thus far. Besides, the upside momentum has resumed after waning in late November. From this setup, LTC bulls appear to set their eyes at $100, a psychological reaction level.
What to Expect from #LTC?
There are fundamental factors behind the revival, a welcomed move after losses in 2022. The immediate support is at $70. If bulls sustain this level, LTC may post more upsides in the short term.
Resistance level to watch out for: $100
Support level to watch out for: $70
Disclaimer: Opinions expressed are not investment advice. Do your research.
Litecoin remains within a bullish breakout formation, doubling in the past six months. The coin is within a breakout formation at spot rates, clearing critical resistance levels. Accordingly, buyers have re-established themselves, setting the base for a possible recovery.
#Litecoin Technical Analysis
At spot rates, LTC is up 67 percent from November lows, reversing losses of early November 2022. Because of this, buyers have the upper hand. Subsequently, every low above $70, flashing with November highs, presents a loading opportunity for aggressive traders. This bullish preview holds considering the failure of sellers to push back prices, reversing gains made thus far. Besides, the upside momentum has resumed after waning in late November. From this setup, LTC bulls appear to set their eyes at $100, a psychological reaction level.
What to Expect from #LTC?
There are fundamental factors behind the revival, a welcomed move after losses in 2022. The immediate support is at $70. If bulls sustain this level, LTC may post more upsides in the short term.
Resistance level to watch out for: $100
Support level to watch out for: $70
Disclaimer: Opinions expressed are not investment advice. Do your research.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.