Litecoin Refuses to $ 60 Overhead Resistance

Litecoin Refuses to $ 60 Overhead Resistance

Litecoin bounced as it made an upward movement to review $ 60 resistance. On January 29, bulls made their first attempt to break the resistance at $ 60 but were rejected. It is estimated that if bulls break the $ 60 resistance, the LTC will rally above $ 65.

Accordingly, if the tempo is maintained, bulls will reach a high of $ 75. Similarly, if the resistance at $ 60 remains unbroken, a high of $ 65 and $ 75 will only be a dream. Litecoin may be required for sideways trends.

Litecoin Indicator Analysis

LTC has a chance to rise because it is trading above the 65 RSI level. The RSI had previously shown an overbought condition when LTC was trading at $ 60. Bulls took another bold step to retest prices at $ 60.

Main Resistance Levels: $ 75, $ 75, $ 110

Main Support Levels: $ 55, $ 50, $ 30

What Is The Next Direction For Litecoin?

In their second challenge, Litecoin made a stopover but had not yet broken through resistance. Of course, if bulls cannot break resistance, LTC will continue the range-bound movement. Conversely, if the LTC falls and breaks below $ 55 support, Litecoin will depreciate and the decline will have a negative effect on the LTC.

Denial. This analysis and estimate is the author's personal opinion not a recommendation to buy or sell cryptocurrency and should not be seen as support by coincryptoasia.com. Readers must do their own research before investing funds.