The price of Litecoin acquires momentum: But here is the condition of continuous assembly
Litecoin (LTC) shows signs of life, but everything can be a frequent monotheism. According to the Crypto analyst, although the momentum is built, there is a decisive situation that needs to face a sustainable upward movement.
Litecoin made steady progress, currently being traded at $ 120. As Ali notes, digital assets are now approaching a critical turn.
The current procedure for Litecoin is unifying within a specific area, with the immediate challenge is the level of resistance between $ 135 and $ 141. “It can open nearly 141 dollars, the path is about 170 to 200 dollars,” Notice AliEmphasize the importance of to be sure Before assuming a continuous rally.
While the bullish momentum is encouraging, many support levels provide safety networks if prices are declining. Average-range support sits about $ 114.50, with deeper support areas ranging from $ 102.50-108.50 dollars. In the event of a more important correction, the 86.50 dollar range works to $ 96.50 as another major support level.
Also read: Onyxcoin (xcn): Is it right to buy DIP?
LTC trading strategy and expectations
Ali’s analysis indicates a cautious but optimistic approach. Instead of rushing to sites, merchants must wait for a clear confirmation over $ 141. This level is very important, as a successful violation with a strong size can already pave the way for the expected goals of $ 170 and perhaps $ 200.
However, if Litecoin fails to penetrate the resistance area from 135 to 141 dollars, we may see a decline to test low support levels. This scenario will offer traders to accumulate at more appropriate prices, especially about $ 114.50.
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