LTC: Resistance Breakout
Litecoin (LTC) technical analysis:
Trade setup: Price bounced off of support trendline (blue line in chart) and 200-day moving average, and broke back above $90 resistance. Momentum turned bullish again (MACD crossover and RSI crossed above 50 centerline), and price could revisit $100-$105 resistance zone where it got rejected 3x. Hype around LTC-20 (Ordinals) has driven Litecoin transactions up 500% in one week to an all-time high.
Trend: Uptrend on Short-Term basis, Downtrend on Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $80, then $65. The nearest Resistance Zone is $90, which it broke, then $105.
Trade setup: Price bounced off of support trendline (blue line in chart) and 200-day moving average, and broke back above $90 resistance. Momentum turned bullish again (MACD crossover and RSI crossed above 50 centerline), and price could revisit $100-$105 resistance zone where it got rejected 3x. Hype around LTC-20 (Ordinals) has driven Litecoin transactions up 500% in one week to an all-time high.
Trend: Uptrend on Short-Term basis, Downtrend on Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $80, then $65. The nearest Resistance Zone is $90, which it broke, then $105.
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