empty
 
 
23.11.2022 02:34 PM
Litecoin breaks to new multi month highs

This image is no longer relevant

Red lines- resistance trend lines (broken)

Blue line- next resistance

Litecoin is trading at levels not seen since May of 2022. Price is making new higher highs and higher lows as it breaks above $73. Short-term momentum remains bullish as we explained in previous posts. Litecoin's next upside target is at $90-92 where the next major horizontal resistance is found. Both major downward sloping trend lines have been broken. This week's price action is an important bullish signal for the medium-term trend change. The entire decline from $294 could be complete. Support at this week's low of $58 is crucial for the medium-term trend. Bulls need to defend it.

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 $1000 more!
    In April we raffle $1000 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