LTCUSD Medium-term Trend: Ranging
Resistance: $150, $149, $148
Support: $144, $145, $146
Yesterday, May 1, Litecoin price was in a ranging market. The LTCUSD pair is fluctuating between the resistance level at $155 and the support level at $145. There was a tendency of the price breaking any of these levels. However, the resistance level at $155 and the support level at $145 were created since April 21, when the bears resisted the bulls and the price was brought to $145.
Then the bulls took control of the price and broke that same level within four days to $165. The bears brought the price to $145 again. Since then, neither the bulls nor the bears have had the opportunity of breaking any of these levels.
However, if the bears break the support level at $145, the price will fall to $114. In the same vein, if price breaks the resistance at $155, it will soar to $180.
LTCUSD Short-term Trend: Ranging
The daily chart shows that the Litecoin price is also ranging. The price of the asset fell to $144 and tested that level several times before it had a bullish movement to $149. At that point, the price commenced its range bound movement.
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