Litecoin looks strong after breaking key MAs

13 thg 7, 2023

LTCUSDT

The long tail on Litecoin's July 10 candlestick indicates that the bulls aggressively bought the dip below the 20-day EMA ($95).

To signal the beginning of a sustained recovery, buyers will need to overcome the barrier at the psychological level of $100. Subsequently, the LTC/USDT pair could advance to $106 and then aim for the overhead resistance at $115.

On the downside, the critical level to monitor is the 20-day EMA. If this level fails to hold, the pair may decline to the 50-day SMA ($89), potentially delaying the start of the next upward movement.