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Litecoin price continues to climb to $ 150

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Litecoin price continues to climb to $ 150

Litecoin price continues to climb to $ 150
CONTENT

  • Long-term resistance on LTC passes at $ 149 and $ 187.

  • Technical indicators on all timeframes give bullish signals.

  • LTC / BTC rate broke through the downward resistance line.

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The Litecoin (LTC) rate has been accelerating for two weeks and is currently approaching the resistance area of ​​$ 149. Bulls can take this barrier.

Long-term levels of LTC

On the weekly chart for LTC, you can see that the price has been growing since the beginning of March. Now it is approaching the resistance area of ​​$ 149, where the Fibo level of 0.382 of the correction of the entire previous bearish move passes. Also here are the highs of June 2019..

Litecoin price continues to climb to $ 150

In case of a successful breakout of this area, the next resistance will meet the market at $ 187.

Technical indicators are bullish, supporting the likelihood that the rally could reach at least the $ 149 area – and possibly a bullish breakout.

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LTC chart. Source: TradingView

What’s next

The picture on the daily chart speaks in favor of the same scenario. While the RSI is providing as-yet unconfirmed bearish divergence signals, the MACD and Stochastic Oscillator are rallying, showing no signs of weakening..

LTC chart. Source: TradingView

On a shorter-term, 2-hour timeframe, the LTC rate has already broken through the downward resistance line and continued to grow at an accelerated pace.

Litecoin price continues to climb to $ 150

As with the weekly and daily charts, technical indicators give bullish signals here. Accordingly, the LTC rate may continue to rise in the direction of $ 149 and, possibly, $ 187.

A drawdown under $ 100 support will cancel this scenario.

LTC chart. Source: TradingView

LTC / BTC

Cryptocurrency trader @damskotrades shared an LTC / BTC chart with his readers, noting that the price has pulled back to range lows. Further, he expects a significant increase in the pair.

Source: Twitter

The picture on the weekly chart for LTC / BTC looks very optimistic.

First, the LTC rate made a bullish breakout of the downward resistance line, which has remained on the chart since the beginning of the year. In addition, the MACD and RSI are showing strong signs of bullish divergence, with the latter indicator just crossing the 50 mark from the bottom up. Finally, the Stochastic Oscillator has just formed a bullish crossover.

Accordingly, one can expect an increase in LTC to ₿0.0095, and, possibly, to ₿0.011.

Litecoin price continues to climb to $ 150

LTC chart. Source: TradingView

Conclusion

Thus, it is expected that the LTC / USD rate will continue to grow towards $ 149 and, possibly, to $ 187. Meanwhile, the LTC / BTC picture looks very optimistic. The price can smoothly reach ₿0.0095 and possibly ₿0.011

Read the latest Bitcoin forecast here.

Disclaimer: Trading cryptocurrencies carries a high level of risk and is not suitable for all investors. The opinions expressed in this forecast do not reflect the opinions of the editorial staff of BeInCrypto.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

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