- LTC/USD is inside a symmetrical triangle on the every day chart awaiting a breakout to $50 and above.
- A break of the sample would lead LTC in the direction of $64, the subsequent resistance degree.
Litecoin is buying and selling inside an evident symmetrical triangle shaped up to now month and a half. LTC/USD recovered from the crash on June 2 after efficiently defending each the every day 12-EMA and the 26-EMA.
LTC/USD every day chart
Bulls can discover a clear resistance degree at $49.92, the excessive set on June 2 earlier than the large rejection. Sadly, that’s not the one resistance level as Litecoin shaped one other excessive at $50.87 again on April 30. The every day RSI has cooled off and LTC continues buying and selling above the 12-EMA and the 26-EMA on the every day chart. The closest and most essential help degree is the low on June 2, at $44.54, marked with the inexperienced horizontal line.
LTC/USD 4-hour chart
The 4-hour chart reveals one other line of resistance at $48.08, shaped on Could 30 and a help degree at $46.30. Bulls have executed an excellent job of defending the 12-EMA and the 26-EMA right here as nicely. A transparent lack of these two EMAs may point out a shift in momentum favoring the bears.
LTC/USD technical ranges
