Litecoin (CRYPTO: LTC) is buying and selling increased Wednesday, seemingly shifting 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 Day by day Chart Evaluation
- Litecoin just lately bounced close to an outdated assist degree and appears to be buying and selling in an inverse head and shoulders sample.
- The crypto trades above the 50-day shifting common (inexperienced), however under the 200-day shifting common (blue), indicating the crypto is probably going going through a interval of consolidation..
- Litecoin might discover assist close to the 50-day shifting common, however the 200-day shifting 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 capable of maintain this degree as assist.
- The Relative Energy Index (RSI) just lately crossed above the 50 mark and now sits at 58. This implies there was extra consumers shifting 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 wish to see Litecoin kind increased lows and kind an uptrend.
Bearish merchants want to see Litecoin fall and break under the $100 degree. If Litecoin can maintain under the $100 degree then it could see an extra downward push.
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