- Litecoin noticed a 4% worth improve immediately after breaking above the 100-days EMA to achieve $49.62.
- The bulls at the moment are on the offensive for Litecoin and a closing candle above $50 would set the following goal for $56.
Litecoin noticed a 4% worth rise immediately because the bulls begin a push upward to interrupt the 100-days EMA at $48 and attain the $49.62 degree. The cryptocurrency was trapped beneath $47.70 for almost all of April however managed to interrupt above this degree towards the top of the month.
Nonetheless, the patrons had been by no means in a position to climb above the 100-days EMA and had been rejected on every try to cross it. If immediately’s candle can shut as it’s now, this may mark a break of the 100-days EMA and may put the bulls on the offensive to focus on the $56 degree subsequent.
Litecoin Value Evaluation
LTC/USD – Each day CHART – SHORT TERM
Market Overview
Analyzing the every day chart above, we are able to clearly see that Litecoin was trapped on the $47.70 degree for almost all of April. The resistance right here was supplied by a bearish .382 Fibonacci Retracement degree that’s measured from the Feb excessive to the March low.
The bulls tried to interrupt above this resistance initially of April however had been turned away after the try. The market then went on to drop into the rising development line the place help was discovered across the $39 degree.
Litecoin rebounded from right here and ultimately broke the resistance at $47.70 towards the top of April.
In immediately’s buying and selling session, the cryptocurrency broke the 100-days EMA because it makes an attempt to breach $50.
Quick time period prediction: BULLISH
The break above $47.70 turned Litecoin bullish and if immediately’s candle can shut above the 100-days EMA this may verify the bullish sentiment. LTC would wish to drop beneath $47.70 to show impartial once more and must break beneath the rising development line to show bearish.
If the patrons break $50, resistance may be discovered at $52, $54.70 (bearish .5 Fib Retracement), and $56 (1.618 Fib Extension).
On the opposite facet, if the sellers push decrease, help lies at $47.70, $45, $44.62, and $42.50.
Key Ranges
Assist: $47.70, $45, $42.50, $42.
Resistance: $50, $52, $54.70, $56.
Abstract
Article Title
Litecoin Value Evaluation: Bulls On The Offensive After Breaching 100-days EMA
Description
Litecoin noticed a 4% worth improve immediately after breaking above the 100-days EMA to achieve $49.62.
The bulls at the moment are on the offensive for Litecoin and a closing candle above $50 would set the following goal for $56.
Creator
Yaz Sheikh
Writer Title
Coin Gape
Writer Brand
Disclaimer
The views, opinions, positions or methods expressed by the authors and people offering feedback are theirs alone, and don’t essentially replicate the views, opinions, positions or methods of CoinGape. Do your market analysis earlier than investing in cryptocurrencies. The writer or publication doesn’t maintain any accountability on your private monetary loss.
