The road is long to recovery, but Litecoin will test $160.00 next week

• Litecoin is transferring increased for the fourth day in a row. 
• The final sentiment in Bitcoin and on international monetary markets helps LTC with increased costs. 
• LTC in a difficult zone, $160 potential goal for subsequent week 

The worldwide restoration helps a number of property throughout the board and Litecoin is one among them. LTC is on a profitable streak with 4 days of beneficial properties in a row, and it doesn’t appear to finish quickly.

Litecoin can bounce 10% inside the week to the upside 

Litecoin is on a profitable streak. At the moment is the fourth day in a row that the cryptocurrency is printing inexperienced figures. And it doesn’t seem like it’s coming to an finish for now. With LTC now at $145.00, Litecoin might go to the $160.00 goal, a ten% revenue. 

For the reason that dip from LTC to $105.00, now we have seen a restoration in direction of $145.00, the place we’re right this moment. Between $138.00 and $157.00 (crimson zone), that space has many resistances to the upside. Nevertheless, the primary hurdles didn’t present any issues for consumers, so momentum inside LTC itself is there.

Litecoin initially bounced off the yellow ascending trendline round $117.00 and will probably be making an attempt to check the descending trendline at $160.00. 

With increased lows and better highs, the consumers/bulls are very a lot accountable for LTC. The development appears to be clearing the crimson zone in direction of $157.00, and that’s only a sigh away from the $160.00 psychological stage.

Add to that the overall sentiment within the markets simply earlier than the summer season, with Nasdaq hitting new all-time highs and Bitcoin on a profitable streak as properly these previous few days, LTC has the best setting for consumers to step in and push Litecoin additional upwards.

LTC/USD Every day Chart

Litecoin has the potential to maneuver increased in direction of $160.00 if it might probably preserve this profitable streak and filter the crimson zone with a number of resistance. Not solely technical but additionally psychological and the overall sentiment is favoring the upside in LTC.