- Litecoin’s bullish momentum falls short of $50 but the bulls refuse to give up, keep the focus on $60 and $80.
- Litecoin bulls resort to consolidating gains between $47 and $49 ahead of a technically possible breakout.
Spot rate: $47.85
Relative change: 1.54
Percentage change: 3.22%
Trend: Bearish
Volatility: Low
LTC/USD daily chart
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Litecoin pushed the action above $40, testing the crucial resistance at $50.
The MACD hints that bulls are ready to stir up more action to the upside likely to hit $60 in the near-term.
LTC/USD 1-hour chart
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The RSI retreat from the overbought finds support above 66 ushering a period of consolidation.
The accelerated trendline tries to prevent losses towards the $47 short term support. Similarly, the main trendline will come in handy later in the event bears overwhelm the buyers.
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