Litecoin Leaps, Can It Reach the $50 Supply Zone

From the current low, it is expected that any further break down will catapult LTC to revisit the $36 low. Meanwhile, on the upside, LTC will make a positive move, if the current bullish move is sustained. Besides, a break above $42 will ensure its continuous move.

Litecoin Indicator Analysis 

It appears LTC is pushing higher as per the stochastic which has a 50% range. This explains that LTC is trending higher as the price revisits the highs of $42 and $50.

Key Supply Zones: $80, $100, $120

Key Demand Zones: $50, $40, $20

What Is the Next Move for Litecoin?

The upward move has been consistent since December 18. Litecoin is approaching the $42 supply zone. LTC will rise to the former range of $42 and $50 if it jumps over the high of $42. As Litecoin makes impressive moves, traders should look out to buy setups. Meanwhile, stop-loss orders should be placed at $36 low.

Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.