29.11.2023 09:44 PM
Litecoin accumulating more bullish energy

Litecoin moves sideways in the short term. It's located at 69.78 at the time of writing. The altcoin is fighting hard to extend its growth even if the price of Bitcoin dropped in the short term.

Litecoin is up by 0.33% in the last 24 hours and by 2.41% in the last 7 days. Still, it remains to see how it reacts if Bitcoin develops a larger drop in the short term.

Litecoin/USD Attractive For Buyers!

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As you can see on the H1 chart, the altcoin escaped from the minor down channel and has now passed and stabilized above the 69.38 immediate upside obstacle. It has tested and retested this level and now is struggling to jump higher.

It's trapped between 69.38 and 70.26 levels in the short term. As long as it stays above 69.38, Litecoin could still resume its growth.

Litecoin Forecast!

Jumping and closing above 70.26 and making a new higher high activates further growth. This could bring new long opportunities.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
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