29.09.2023 02:20 PM
Litecoin tries to confirm breakout

Litecoin increased by 5.36% from yesterday's low of 63.11 to 66.49 today's high. The bias is bullish in the short term, so more gains are expected. Still, after its rally, a retreat is also in cards.

Bitcoin's upwards movement helped the altcoin to come back higher. LTC/USD is up by 2.53% in the last 24 hours.

LTC/USD Upside Scenario!

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LTC/USD jumped above the downtrend line and now is fighting hard to resume its growth. Still, a retreat could be in cards after its bullish momentum. The rate could come back to retest the broken levels, trying to accumulate more bullish energy.

Bitcoin's temporary retreat forced the altcoin to slip lower after reaching today's high of 66.49.

LTC/USD Forecast!

The bias remains bullish as long as it stays above the uptrend line. Stabilizing above 65.88 and closing above the R1 (67.01) indicates further growth.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2023
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