LTC/USD has returned to the area above $55.00. The bullish recovery may be limited by psychological $56.00. Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $3.5 billion, has been moving inside a range with bearish bias during early Asian hours. LTC/USD bottomed at $54.23 on Tuesday and recovered to $55.21 by press time. Litecoin’s technical picture From the intraday, perspective a strong resistance is now created by a combination of SMA50 (Simple Moving Average) and the upper line of 1-hour Bollinger Band at $56.00. Once it is broken, the sell-off may be extended towards SMA100 1-hour at $57.30 followed by the next psychological barrier of $58.00. On the downside, we will need to see a sustainable move below Tuesday’s low of $54.23 and $54.00 for the sell-off to gain traction. Once it is cleared, a psychological $53.00 will come into view. This barrier is reinforced by the lower boundary of the previous consolidation range. The longer-term support is created by $50.00. LTC/USD, 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next AUD/USD rebounds modestly after finding support near 0.6800 FX Street 3 years LTC/USD has returned to the area above $55.00. The bullish recovery may be limited by psychological $56.00. Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $3.5 billion, has been moving inside a range with bearish bias during early Asian hours. LTC/USD bottomed at $54.23 on Tuesday and recovered to $55.21 by press time. Litecoin's technical picture From the intraday, perspective a strong resistance is now created by a combination of SMA50 (Simple Moving Average) and the upper line of 1-hour Bollinger Band at $56.00. Once it is broken, the sell-off may be extended towards… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
