Home Litecoin Litecoin Price Prediction: LTC recovery moves eye $233.00 inside rising channel – FXStreet

Litecoin Price Prediction: LTC recovery moves eye $233.00 inside rising channel – FXStreet

2 min read

  • LTC/USD bounces off three-day low inside a bullish chart sample.
  • A confluence of channel’s help, 50-SMA exams short-term sellers, bulls intention for February’s excessive.

LTC/USD picks up bids close to $218.00, up 1.82% intraday, throughout early Monday. In doing so, the cryptocurrency pair recovers from the bottom since Friday as RSI pullback from overbought territory catches a breather inside a three-week-old rising channel.

Given the pair’s rejection to the earlier consolidation, inside a bullish chart sample, LTC/USD eyes to revisit the $230.00 round-figure through the newest upside momentum.

Nevertheless, the acknowledged channel’s resistance line round $233.00, adopted by February’s excessive close to $247.00, will likely be powerful nuts to crack for LTC/USD bulls.

In the meantime, sellers will discover it troublesome except breaking convergence of 50-SMA and the acknowledged channel’s help line, round $203.00, a break of which might drag the quote in direction of an ascending pattern line from late January, at present round $168.00.

If in any respect, LTC/USD sellers dominate past-$168, February’s backside surrounding $153 would be the key.

General, LTC/USD stays in an upward trajectory with a bumpy street to the north.

LTC/USD four-hour chart

Development: Additional upside anticipated

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