Home Crypto News LTC Technical Evaluation Report | 18th Might 2023

LTC Technical Evaluation Report | 18th Might 2023

by Cryptoroz

LTC is gearing up for an eventful interval over the following eight weeks. Litecoin halving is approaching, an occasion that has precipitated important market exercise up to now. The shortage issue might theoretically improve the value of LTC. Traders had a tough time with Litecoin, due to the general crypto market downtrend. LTC broke the 20-day EMA ($85) on Might fifteenth and revived above the 50-day SMA ($89) on Might sixteenth. The LTC/USDT pair is nearing the $96 stage the place the bears are prone to mount robust defences. 

On the time of writing, LTC was buying and selling at $93.12.

LTC Daily Chart | 18th May 2023
LTC Chart

LTC witnessed an enormous rally from $65 to $103.55 surging virtually by 59%. The bulls did not push the costs above the earlier prime of $105 and the asset noticed some revenue reserving and the costs dropped to $75.2. Publish this transfer, LTC began to consolidate and was buying and selling sideways in a variety from $77 to $81.5. The asset lastly gave a breakout above the vary and began buying and selling upwards by forming a ‘Increased Prime Increased Backside’ sample. As soon as LTC breaks and closes above the important thing resistance stage of $105 then we will anticipate it to additional rally as much as the following resistance stage which is at $125 – $130.

  Help 2 Help 1 Asset Resistance 1 Resistance 2
$65 $75 LTC $105 $125

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