LTC/USD Daily outlook
Litecoin is getting closer to a falling wedge pattern breakout most likely to recover some lost territory heading to $100.
The drops are slowing down as shown by the Poshtrader Hull Moving Average period 50, where Litecoin price has broken out above the trendline resistance.
However, the Litecoin bulls must reclaim the support at $45 to avoid declines into the $30’ range.
*The RSI recovery towards 50 shows that the bulls are ready to retrieve command and move some action upwards.
*The Poshtrader Hull Moving Average is supporting the current price level
*The Simple Moving Average 50 Gap has started to narrow.
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Litecoin is getting closer to a falling wedge pattern breakout most likely to recover some lost territory heading to $100.
The drops are slowing down as shown by the Poshtrader Hull Moving Average period 50, where Litecoin price has broken out above the trendline resistance.
However, the Litecoin bulls must reclaim the support at $45 to avoid declines into the $30’ range.
*The RSI recovery towards 50 shows that the bulls are ready to retrieve command and move some action upwards.
*The Poshtrader Hull Moving Average is supporting the current price level
*The Simple Moving Average 50 Gap has started to narrow.
Don't forget to hit the Like button!
If you like our work, hit the Follow button to stay updated with the latest ideas!