Litecoin (LTC) Price Seeks Fresh Momentum as Bulls Hold Key Support

Litecoin is currently trading around $273 against the United States dollar, regarding 4.5% up over the last 24 hours. The intraday gains have actually seen bulls recoup several of the current losses to see LTC/USD turn green on the weekly timespan.

Litecoin could rally by 52% to reach a new all-time high over $400, a crypto expert states

Crypto analyst Altcoin Sherpa says LTC might surge to a brand-new all-time high of $420 offered its favorable expectation.

Litecoin bulls are looking to hold prices above the 100-day straightforward moving ordinary near $257, which would supply a structure for fresh gains.

$ LTC: Potential 50/200 favorable EMA cross on the 1D for BTC set inbound, this would be very substantial IMO. Haven’t seen that because 2019. I’m bullish on #Litecoin still as well as assume it’s mosting likely to go to $420. #LTC pic.twitter.com/I15n9oEwsI

— Altcoin Sherpa (@AltcoinSherpa) April 21, 2021

Litecoin can climb by almost 52% from its present rate degree if this analyst’s view were to hold.

LTC cost 4-hour overview

The technical sight for LTC/USD on the 4-hour chart recommends a bullish flip, despite the fact that bears may still have actually a say given the lengthy darkness on the present candle light.

The RSI has climbed over the middle line as well as presently publishes 52, while the MACD is reinforcing after a favorable crossover.

As can be seen on the chart below, LTC/USD is getting momentum as well as boosting above the 100 SMA. Uncertainty currently appears to be dealing with, with rate heading upwards as bulls seek to enhance their setting after jumping off $257.

LTC/USD 4-hour chart.

A high is developed near $279 where LTC deals with mild resistance at the wedge pattern fad line and the 61.8% Fib degree of the swing from $335 to $241.

A clear break over this supply area will allow buyers to target the 50% Fib degree ($288). One more boost will bring into play a go to $313 and afterwards the recent top. If customers damage above the 52-week high of $335, they can after that target the all-time high of $375 gotten to in December 2017 and afterwards, ultimately, $400.

If things go the other means, the initial assistance degree goes to the 78.6% Fib degree near $261. The following need area is near the 100 SMA ($257), while Litecoin’s price may decrease to $240 and then $215.

$ LTC: Potential 50/200 favorable EMA cross on the 1D for BTC pair inbound, this would certainly be extremely significant IMO. I’m favorable on #Litecoin still and also think it’s going to go to $420. A clear break above this supply area will certainly allow customers to target the 50% Fib degree ($288). If purchasers break above the 52-week high of $335, they can after that target the all-time high of $375 reached in December 2017 and also then, eventually, $400.

Leave a Reply

Your email address will not be published.