- 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