Litecoin (CRYPTO: LTC) is buying and selling increased Wednesday, seemingly transferring with the remainder of the bullish cryptocurrency market.
Nearly all of the market is buying and selling inexperienced and Ethereum (CRYPTO: ETH) leads the pack.
Litecoin was up 3.28% at $143.52 ultimately test Wednesday, whereas Ethereum was up 9.29% at $2,707.10.
Litecoin Each day Chart Evaluation
- Litecoin lately bounced close to an previous help degree and appears to be buying and selling in an inverse head and shoulders sample.
- The crypto trades above the 50-day transferring common (inexperienced), however beneath the 200-day transferring common (blue), indicating the crypto is probably going going through a interval of consolidation..
- Litecoin might discover help close to the 50-day transferring common, however the 200-day transferring common might maintain as a resistance degree.
- The $100 degree is an space the place Litecoin as soon as discovered resistance, however after breaking above resistance it has been in a position to maintain this degree as help.
- The Relative Energy Index (RSI) lately crossed above the 50 mark and now sits at 58. This implies there was extra consumers transferring into the crypto all through the previous few weeks.
What’s Subsequent For Litecoin?
Bullish merchants want to see Litecoin end reversing and proceed to maneuver increased. Bulls would then prefer to see Litecoin type increased lows and type an uptrend.
Bearish merchants want to see Litecoin fall and break beneath the $100 degree. If Litecoin can maintain beneath the $100 degree then it could see an additional downward push.
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