Litecoin, LTCUSD, CryptoCompare chart

LTCUSD Medium-term Trend: Bullish

Resistance: $160, $155, $150                                                                                                                                    

Support: $130, $135, $140

The LTCUSD pair is still in a bullish market. The 20-day moving average is above the 50-day moving average and it is trending northward, signifying that Litecoin price is rising. Yesterday, the concern was how Litecoin price could break the $140 resistance level. The bulls’ initial attempt was partially successful, but the price pulled back below the resistance level.

However, in the weekly chart, the resistance level at $140 has been broken. The next price level at $150 was resisted by the bears. At the $150 resistance level, the price pulled back to $145. However, since the overall trend is bullish, the price has started correcting itself by moving in the direction of the bullish market. As long as the trend remains bullish, Litecoin price will break the resistance at $150.

LTCUSD Short-term Trend: Bullish   

Litecoin, LTCUSD, CryptoCompare chart

In the daily chart, the asset’s bullish trend started at $140. Initially, it was moving in a range bound movement. Later, Litecoin price rose to the $148 high and made a pullback to the $146 low. At that price, it made its way to the $150 high. At the $150 resistance, the price pulled back again to the $144 low and began a range bound movement. The price is expected to raise back to the $150 high.

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