- The entire crypto market suffered a significant crash yesterday on June 11.
- LTC/USD has managed to recover quite well from its low at $42 and it’s eying up to $46 already.
Litecoin suffered a 7% crash yesterday on June 11 but the bulls are managing to recover really well as LTC is up 5% already. The recent crash seems to be closely related to a similar price action by the SP500 and other indices.
LTC/USD daily chart
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LTC has lost the daily 12-EMA at $45.67 and the 26-EMA at $45.43 but it’s close to conquering both levels again. If bulls get rejected from any of these levels we could see further bearish action in the upcoming hours. The RSI hit oversold levels and has only bounced minimally which means bulls can still see more upside as long as they can break the EMA resistance levels.
LTC/USD 4-hour chart
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Litecoin is currently trying to remain above the 4-hour 12-EMA at $44.8, but will still need to face the 26-EMA at $45.42. Creating a 4-hour uptrend will be tough for the bulls as they need to set a clear higher low compared to $42.08 and then a higher high.
LTC/USD technical levels
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