Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Litecoin Forum => Other Popular Cryptos / Coins => Litecoin News & Updates => Topic started by: MUGNIA on January 15, 2021, 02:15:53 PM
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The Litecoin (LTC) price has increased significantly so far in January but was recently rejected by a long-term resistance level at $186.
While it is possible that Litecoin is still in a corrective phase, another upward move is expected that could take LTC toward $225.
Long-Term Litecoin Levels
Litecoin has been decreasing since Jan. 10, after reaching a high of $185.83. The high coincided with the 0.5 Fib retracement level measuring from the all-time high of $370, validating the area as resistance.
However, after the drop, LTC has held on above the June 2019 high of $146 and created a very long lower wick in the process. This is a strong sign of buying pressure. A weekly close above this level would likely confirm a continued bullish trend.
Technical indicators in the weekly time-frame are bullish. If LTC manages to break out, the next resistance area would be found at $225 — the 0.618 Fib retracement level. An increase above this level could take LTC toward its all-time high.
more : https://beincrypto.com/litecoin-regains-footing-after-knocked-back-resistance/
It can be concluded that Litecoin faces long-term resistance and support at $ 186 and $ 146 respectively. and LTC is likely to be in wave 4 of an upward push.
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This is great news for Litecoin and other altcoins, because of Bitcoin's Dominance and sudden correction, their prices dump as well but bounced back to the current price of it. I think it will continue to grow because the halving of coin is in near february.