Litecoin price bullish case to $60.00 hits a wall at $56.00. Litecoin enjoys multiple support areas above $50.00 which raise hope for a breakout past the $56.00 hurdle. Litecoin price is settling above $50.00 after the recent breakout stalled at $56.00. Generally, the market is taking a step back after recording gains for two consecutive days. LTC/USD bounced off ascending trendline support. This gave the bulls the momentum to overcome the resistance at the 50-day SMA as well as the 200-day SMA. As mentioned, action towards $60.00 lost steam at $56.00. Meanwhile, LTC/USD retreated to $52.82 (prevailing market value). Technically, buyers still have the upper hand as per the trend observed using the RSI and the MACD indicators. However, they lack the energy to push the cryptocurrency farther up. LTC/USD daily chart Litecoin confluence resistance and support areas Resistance one: $52.90 – A subtle resistance highlighted by the previous low 4-hour. Resistance two: $54.08 – The strongest resistance zone hosting the pivot point one-month resistance two. Support one: $52.46 – A subtle buyer congestion zone highlighted by the Bollinger Band 1-hour middle. Support two: $52.17 – Home to the previous low 15-minutes. More LTC/USD levels 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 GBP/USD Price Analysis: Chart signals buyers’ exhaustion amid oversold RSI FX Street 3 years Litecoin price bullish case to $60.00 hits a wall at $56.00. Litecoin enjoys multiple support areas above $50.00 which raise hope for a breakout past the $56.00 hurdle. Litecoin price is settling above $50.00 after the recent breakout stalled at $56.00. Generally, the market is taking a step back after recording gains for two consecutive days. LTC/USD bounced off ascending trendline support. This gave the bulls the momentum to overcome the resistance at the 50-day SMA as well as the 200-day SMA. As mentioned, action towards $60.00 lost steam at $56.00. Meanwhile, LTC/USD retreated to $52.82 (prevailing market value). Technically,… 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.
