In spite of the downtrend, Litecoin sustains a lower high pattern above a short-term ascending channel. Litecoin price is hitting on the 38.2% resistance amidst a developing bullish momentum. The weekend love for cryptocurrencies seems to be getting into action. Bulls across the board are trying to throw jabs after being largely suppressed On Friday. Litecoin, for example, is yet again re-starting the journey towards to $60 (key supply) zone once again. This comes after yesterday’s declines found support at $53. Its immediate upside is capped at the 38.2% Fib retracement level taken between the last swing high of $59.89to a swing low at $51.18. Also in the way of movement north is the 50 Simple Moving Average (SMA) on the one-hour chart. The Relative Strength Index (RSI) is staying above the average (50) to show that bullish pressure is increasing. Litecoin’s downside is supported initially by the 21 SMA. The next support target is $53 (Friday’s support). The ascending channel will come in handy if losses progress further. However, the key support lies within the zone at $50 – $52. LTC/USD one-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 USD: Sentiment analysis: Lack Clear Direction Ahead Of Next Risk-On Phase By Nov-5 – Nomura Yohay Elam 3 years In spite of the downtrend, Litecoin sustains a lower high pattern above a short-term ascending channel. Litecoin price is hitting on the 38.2% resistance amidst a developing bullish momentum. The weekend love for cryptocurrencies seems to be getting into action. Bulls across the board are trying to throw jabs after being largely suppressed On Friday. Litecoin, for example, is yet again re-starting the journey towards to $60 (key supply) zone once again. This comes after yesterday's declines found support at $53. Its immediate upside is capped at the 38.2% Fib retracement level taken between the last swing high of $59.89to… 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.
