Litecoin Rallies as It Surpasses February High of $80

[Nostoman]

Yesterday, Litecoin bulls have continued their impressive bullish runs as the crypto reached the February high of $80. In the last 24 hours, the coin rebounded above the $72 support as it rallied above the $80 high.

Before the recent rally, Litecoin has been in a sideways move between $72 and $76.The bulls and bears have been in a price tussle to break these range-bound levels.

The recent price surge indicated that the bulls have the upper hand. Buyers have been contesting to push the coin on the upside. LTC reached a high of $84 but it is fluctuating between $80 and $84. On the upside, if buyers sustain the uptrend above $80, LTC can rally above $100. Conversely, if they fail to hold the $80 support, the crypto will slide down to the $76 support. Subsequently, the downtrend will resume.

Litecoin indicator analysis
Litecoin is trading above the 80% range of the daily stochastic. The crypto is trading in the overbought region of the market. The implication is that in a strong trending market the bullish momentum will continue. That is LTC will continue to rise. The moving averages are pointing northward indicating the uptrend.



Key Resistance levels: $80, $100, $120


Key Support levels: $50, $40, $20

What is the next move for Litecoin?
Litecoin is capable of a further upward move if the current bullish momentum is sustained. From the price action, the retraced candle body tested the 50% Fibonacci retracement level on November 7. This retracement indicates that Litecoin will rise and reach level 2.0 Fibonacci extension. That is, the altcoin will reach a high of $77.27. This price level has already been surpassed by the coin.


Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.
Source: https://coinidol.com/litecoin-surpasses-high/

[Riya143]

Litecoin recent rise in prices has indicated that bulls have an upper hand. Of course it is true. At present, the price of itelitecoin is on the rise in the moon. The figure above is well able to show that the price of Litecoin is really rising a lot. I wish you beautiful and bright success in the future.

[Lukasz]

My first contact was with litecoin when it was at 50 USD just before BTC 2018 Bull run. In a very short time it trippled its value. Today it seems that its only a warm up and retest of faithfull holders since there is so much competition among so called shit coins which in fact are different usages of the same technology put in to different use case scenario. Everybody is waiting for a correction but i would not be so sure about it with so much hype and paypal buying all the minted BTCs. Regards

[Rain075]

Lite coins were the highest high
 All-Time High   $360.66 -80.1%
Dec 18, 2017 (almost 3 years)