empty
 
 
30.01.2023 11:08 PM
Litecoin: uptrend intact, 91.14 turns into support

LTC/USD dropped in the short term but this could be a short-lived one. It's trading at 89.71 at the time of writing and it seems very heavy. Still, the rate could only test and retest the near-term support levels before resuming its growth.

In the last 24 hours, Litecoin is down by 7.44% and by 0.56% in the last hour. Bitcoin's drop forced the altcoin to drop as well.

LTC/USD Temporary Drop?

This image is no longer relevant

Technically, the token is challenging the uptrend line which stands as a dynamic support. 91.14 turned into a downside obstacle. It remains to see how the rate will react after reaching the support levels.

As long as it stays above the uptrend line, it could resume its growth. 84.97 represents a downside obstacle as well.

LTC/USD Outlook!

False breakdowns below the uptrend line and below 91.14 may signal a new upside movement.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback