Image default
Analysis

How Litecoin (LTC) Is Able To Muster A 5-Day Straight Rally

Litecoin (LTC) is acting at its peak ranges as seen prior to now 5 days.

  • LTC reveals the formation of a rising parallel channel sample
  • LTC price is down by 0.69% as of this writing
  • LTC price on a 5-day straight rally registered a progress of 21.4%

LTC is having a bull run as validated by the formation of a rising parallel channel sample touching the important thing resistance seen at $66.

The key resistance zone has been a serious hurdle for LTC hindering any bullish progress for the previous couple of months, hinting at a price reversal.

Nonetheless, even when the LTC price can break by the resistance zone, there are nonetheless extra junctures within the street.

Litecoin Manages To Hold Above $53.5 Support

The crypto market has been taking the low blows with main corrections occurring that additional toppled down BTC and different main altcoins in 2022.

Even although Litecoin did endure by a retracement, the help of patrons has allowed the altcoin to carry above the important thing help zone of $53.5.

According to CoinMarketCap, LTC price has plunged by 0.69% or buying and selling at $82.59 as of press time.

The help stage has been retested a number of instances which allowed the bulls to return again stronger on September 7.

Moreover, the bullish reversal additionally helped with sustaining the shopping for momentum and the rising parallel sample which hoisted the restoration of LTC prior to now three months.

LTC price has been on a surge for the fifth straight day, tapping on the expansion of as a lot as 21.4%.

The bullish streak has touched the month-to-month key resistance of $66 and exhibiting some problem to climb additional. Any indicators of bearish reversal at this level will set off a price decline again to hoist the trendline.

LTC To Experience Corrections

On the opposite hand, if the coin patrons can efficiently break the limitations of the overhead key resistance zone, the LTC price may probably spike 6.8% increased earlier than it may contact the trendline.

Further, the LTC price might revert from the resistance stage and begin a bearish development.

Additionally, the rising channel patterns fashioned are presumed to set off additional downtrends. With that in thoughts, the LTC price has a powerful tendency to breach the important thing help line, strengthening the bearish momentum.

Hence, till LTC costs fail to breach the important thing resistance stage, Litecoin might encounter corrections.

The 20- and 50-day EMAs are noticed swerving sideways exhibiting that the bearish momentum could possibly be faltering.

More so, the bearish crossover seen sliced between these slopes strengthens the $66 resistance. Litecoin’s RSI can be seen to spike increased and look bullish exhibiting progress in investor and purchaser confidence.

LTC complete market cap at $4.4 billion on the day by day chart | Source: TradingView.com

Featured picture from Blogtienao, Chart from TradingView.com

Related posts

Ways to Help Ukraine: WhitePay store

Crypto Advisor

Elevate Brands Offering Bitcoin Payouts on Coinbase Prime

Crypto Advisor

Dogecoin Appreciates, Where’s It Headed Next?

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 19,027.55 0.15%
ethereum
Ethereum (ETH) $ 1,327.01 1.61%
tether
Tether (USDT) $ 0.999543 0.13%
usd-coin
USD Coin (USDC) $ 1.00 0.14%
bnb
BNB (BNB) $ 281.81 2.88%
binance-usd
Binance USD (BUSD) $ 1.00 0.03%
cardano
Cardano (ADA) $ 0.460844 0.26%
xrp
XRP (XRP) $ 0.494889 1.70%
polkadot
Polkadot (DOT) $ 6.43 0.76%
solana
Solana (SOL) $ 34.03 6.21%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 3.79%
dogecoin
Dogecoin (DOGE) $ 0.065843 8.35%
staked-ether
Lido Staked Ether (STETH) $ 1,319.76 1.25%
matic-network
Polygon (MATIC) $ 0.771317 3.20%
tron
TRON (TRX) $ 0.060337 0.10%
dai
Dai (DAI) $ 0.99993 0.17%
avalanche-2
Avalanche (AVAX) $ 17.98 2.27%
ethereum-classic
Ethereum Classic (ETC) $ 28.81 1.87%
leo-token
LEO Token (LEO) $ 4.25 1.80%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,014.05 0.09%
uniswap
Uniswap (UNI) $ 6.02 4.45%
litecoin
Litecoin (LTC) $ 54.99 4.13%
cosmos
Cosmos Hub (ATOM) $ 14.01 1.91%
okb
OKB (OKB) $ 15.08 1.33%
ftx-token
FTX (FTT) $ 23.87 2.03%
terra-luna
Terra Luna Classic (LUNC) $ 0.000247 9.39%
near
NEAR Protocol (NEAR) $ 3.79 0.23%
chainlink
Chainlink (LINK) $ 7.60 5.97%
crypto-com-chain
Cronos (CRO) $ 0.120784 2.60%
monero
Monero (XMR) $ 141.88 0.89%
stellar
Stellar (XLM) $ 0.1234 1.02%
bitcoin-cash
Bitcoin Cash (BCH) $ 119.99 3.83%
algorand
Algorand (ALGO) $ 0.381004 0.08%
flow
Flow (FLOW) $ 1.72 1.83%
vechain
VeChain (VET) $ 0.023539 1.71%
eos
EOS (EOS) $ 1.23 1.57%
internet-computer
Internet Computer (ICP) $ 6.14 0.60%
filecoin
Filecoin (FIL) $ 5.73 4.13%
chain-2
Chain (XCN) $ 0.077458 3.59%
frax
Frax (FRAX) $ 0.99904 0.36%
hedera-hashgraph
Hedera (HBAR) $ 0.06158 1.98%
decentraland
Decentraland (MANA) $ 0.724405 1.68%
apecoin
ApeCoin (APE) $ 5.59 1.93%
the-sandbox
The Sandbox (SAND) $ 0.920627 5.22%
tezos
Tezos (XTZ) $ 1.53 3.46%
quant-network
Quant (QNT) $ 116.66 11.12%
axie-infinity
Axie Infinity (AXS) $ 13.34 3.82%
aave
Aave (AAVE) $ 76.65 1.67%
lido-dao
Lido DAO (LDO) $ 1.72 2.02%
elrond-erd-2
Elrond (EGLD) $ 48.73 2.37%
theta-token
Theta Network (THETA) $ 1.13 0.86%
true-usd
TrueUSD (TUSD) $ 0.999069 0.11%
chiliz
Chiliz (CHZ) $ 0.262828 5.65%
bitcoin-sv
Bitcoin SV (BSV) $ 50.11 1.21%
compound-usd-coin
cUSDC (CUSDC) $ 0.022616 0.25%
paxos-standard
Pax Dollar (USDP) $ 0.998926 0.11%
kucoin-shares
KuCoin (KCS) $ 8.95 0.34%
bittorrent
BitTorrent (BTT) $ 0.00000079336857 0.46%
ecash
eCash (XEC) $ 0.00004 2.80%
the-graph
The Graph (GRT) $ 0.101905 2.20%
iota
IOTA (MIOTA) $ 0.283249 4.69%
zcash
Zcash (ZEC) $ 57.10 0.05%
huobi-btc
Huobi BTC (HBTC) $ 18,885.36 0.75%
usdd
USDD (USDD) $ 0.999272 0.10%
huobi-token
Huobi (HT) $ 4.51 0.23%
evmos
Evmos (EVMOS) $ 2.10 6.08%
havven
Synthetix Network (SNX) $ 2.48 2.29%
cdai
cDAI (CDAI) $ 0.022023 0.31%
maker
Maker (MKR) $ 681.03 3.79%
bitdao
BitDAO (BIT) $ 0.489303 0.59%
klay-token
Klaytn (KLAY) $ 0.20614 0.54%
neutrino
Neutrino USD (USDN) $ 0.960888 0.23%
fantom
Fantom (FTM) $ 0.233372 2.07%
compound-ether
cETH (CETH) $ 26.64 0.81%
neo
NEO (NEO) $ 8.58 2.18%
helium
Helium (HNT) $ 4.68 1.89%
gatechain-token
Gate (GT) $ 4.26 1.72%
defichain
DeFiChain (DFI) $ 0.813876 0.00%
radix
Radix (XRD) $ 0.058852 0.71%
celsius-degree-token
Celsius Network (CEL) $ 1.58 2.13%
pax-gold
PAX Gold (PAXG) $ 1,638.08 0.82%
pancakeswap-token
PancakeSwap (CAKE) $ 4.63 3.78%
thorchain
THORChain (RUNE) $ 1.64 1.50%
osmosis
Osmosis (OSMO) $ 1.21 0.95%
zilliqa
Zilliqa (ZIL) $ 0.033017 0.44%
enjincoin
Enjin Coin (ENJ) $ 0.482077 1.17%
nexo
NEXO (NEXO) $ 0.960322 1.98%
arweave
Arweave (AR) $ 9.97 0.23%