LTC appears to have discovered some assist on the chart just under the $300 stage. The Litecoin value is organising for a possible run to $339.
Litecoin is a first-generation Cryptocurrency and is comparable in performance to Bitcoin.
The coin was created by Charlie Lee, ex google engineer and a well-respected determine within the Crypto neighborhood. The mission aimed to create a quicker, cheaper different to Bitcoin, permitting for better adoption.
Moreover, performance just isn’t the one similarity. The Litecoin value has adopted within the footsteps of its huge brother this yr.
From January the primary by way of to its $413 excessive on Might tenth, the coin had returned 239% to holders. During the last six days, the worth has retreated 24% and is at present hovering above the psychological $300 stage, at $314.
Litecoin Value Technical Outlook
The value has run into the assist of an ascending trendline on the 2-hour chart at $298. For the second, the development is holding, and LTC seems to be placing in a backside above the large determine.
Moreover, it’s now above a descending trendline at $311, from the twelfth of might excessive at $394.50.
So long as the Litecoin value stays above the descending development line, I count on a rally to $339.
That is the extent the worth bounced to after the earlier check of the road. If the worth can convincingly clear $339, the following goal is $360.
Nonetheless, if the development line at $298 fails, clearly, there could also be room on the draw back. This could cancel the quick time period bullish outlook.
LTC Day by day Chart
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