Jan 14, 2020 at 11:19
Litecoin Rallies Sharply, Targets $60 and $70 Price Levels
Surprisingly, the resistance at $50 has been breached putting to an end the price range of $40 and $50. About three days ago, Litecoin shockingly dropped to a low of $44. There were fears that LTC might slide down to the bottom of the chart. Nonetheless, the support holds as the bulls took advantage to retest and penetrate the overhead resistance.
Jan 10, 2020 at 13:12
Litecoin Moves Up, Rejected at Key Resistance
In the previous week, Litecoin made remarkable moves but failed to break the overhead resistance. Eagerly, a breakout above $50 would have propelled the coin to rally above $60. Rather, Litecoin was repelled at $48 and it dropped to $44 low. The consequence is that LTC will face another selling pressure.
Litecoin Recovers, Uptrend Uncertain
Litecoin has made a convincing bullish move and it is approaching the overhead resistance. Despite its previous disappointing moves, the coin has proven every wrong right. Meanwhile, the coin is facing initial resistance at $46. LTC upward move may continue if price finds support after a retracement.
Litecoin Plummets as Bulls Fail to Hold $42 Demand Zone
Disappointingly, Litecoin has dropped to a low of $39 at the time of writing. In the previous analysis, it was stated categorically that if the support at $42 failed to hold, Litecoin will face another session of a downward move. The fact is that the pair made a remarkable move in the previous week to the high of $44 but was later repealed.
Litecoin Recovers as Bulls Defend the $42 Demand Zone
Litecoin made a bold move as it traded into the range of between $42 and $50. In the previous week, the bulls impressively reached a high of $44 but were resisted. The coin retraced and found support at $42. Incidentally, the coin has come back to its original range to resume fluctuation. It is expected that the demand zone at $42 will hold, if it does, Litecoin will reach the high of $50 and break it.
Litecoin Fluctuates at the Bottom Faces Rejection at $42 Supply Zone
After a brief consolidation, Litecoin is still in a downward move. The bulls have intended to break the initial resistance at $42 and rally above $50. The upward move may not likely hold as the selling pressure is ongoing. The bottom line is that if the coin falls and breaks below the $39 support, LTC will retest the previous low at $36.
Litecoin Leaps, Can It Reach the $50 Supply Zone
About 48 hours ago, the downtrend corrected as the coin headed to the $42 supply zone. Previously, LTC dropped to $39 on November 20 but has moved up to $41. The price movement has been insignificant because of the low volatility. Litecoin is in the bearish trend zone and if defended aggressively by the bears the downtrend will continue.
Litecoin Drops but Makes a Shallow Rebound at $36 Support
Expectantly, the bears broke the price range between $42 and $50. Litecoin fell to the $36 low but instantly pulled back to retest the price at $42. LTC fell back to a sideways move. However, since the retest was repelled, LTC is likely to fall. The price action is expected to reach the $36 low.