Litecoin (CRYPTO: LTC) is buying and selling larger Wednesday, seemingly transferring with the remainder of the bullish cryptocurrency market.
Nearly all of the market is buying and selling inexperienced and Ethereum (CRYPTO: ETH) leads the pack.
Litecoin was up 3.28% at $143.52 finally test Wednesday, whereas Ethereum was up 9.29% at $2,707.10.
Litecoin Every day Chart Evaluation
- Litecoin just lately bounced close to an outdated help stage and appears to be buying and selling in an inverse head and shoulders sample.
- The crypto trades above the 50-day transferring common (inexperienced), however beneath the 200-day transferring common (blue), indicating the crypto is probably going going through a interval of consolidation..
- Litecoin could discover help close to the 50-day transferring common, however the 200-day transferring common could maintain as a resistance stage.
- The $100 stage is an space the place Litecoin as soon as discovered resistance, however after breaking above resistance it has been capable of maintain this stage as help.
- The Relative Energy Index (RSI) just lately crossed above the 50 mark and now sits at 58. This implies there was extra patrons transferring into the crypto all through the previous few weeks.
What’s Subsequent For Litecoin?
Bullish merchants need to see Litecoin end reversing and proceed to maneuver larger. Bulls would then wish to see Litecoin kind larger lows and kind an uptrend.
Bearish merchants wish to see Litecoin fall and break beneath the $100 stage. If Litecoin can maintain beneath the $100 stage then it might see an extra downward push.
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