- LTC has been buying and selling above the $90 psychological degree since mid-Might.
- If the altcoin can maintain above $91.50, it may clear LTC’s previous and attain $100.
- Alternatively, if LTC is unable to remain above $90.51, the altcoin will seemingly fall again under $90.
In April, Litecoin (LTC)’s tried restoration was halted after Bitcoin (BTC) rejected the essential $30,000 degree. Because of this, the value of LTC fell under the psychological degree of $90. Since then, LTC can not rise above this degree.
Nevertheless, CoinMarketCap indicated that LTC was lastly ready to take action in 2023. on Might 16, and since then the value of the altcoin has been above $90. Additionally, after a 1.94% worth drop within the final 24 hours, LTC was buying and selling at $91.31.
As a result of latest worth drop, LTC has weakened towards the 2 market leaders Bitcoin (BTC) and Ethereum (ETH) by round 1.28% and 1.84% respectively within the final day. Regardless of this, the LTC weekly indicator managed to remain within the inexperienced +4.32%.
The value of LTC hovered round a key help degree at $91.50 at press time. If the altcoin ends as we speak’s buying and selling session under this degree, it could fall to the 20-day EMA line of $88 within the subsequent 24-48 hours. A break under this degree will ship LTC additional right down to $84.30.
Alternatively, if LTC closes as we speak’s candle above $91.50, it could transfer in the direction of $100 within the subsequent few days. Nevertheless, one technical indicator on the cryptocurrency’s day by day chart means that the value of LTC can be under a key help degree on the finish of as we speak.
At press time, the intraday RSI line on the LTC chart was leaning in the direction of oversold territory. Nonetheless, the day by day RSI line was nonetheless larger than the day by day RSI SMA line. Additionally, the 9-day EMA and 20-day EMA strains acted as help for the altcoin worth, with the 9-day EMA buying and selling excessive above the 20-day EMA line.
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