Litecoin has been discovering it onerous to show bullish once more because the crash within the crypto market a few month in the past. Patrons have been making an attempt to reverse the worth greater, however they’ve failed, and the highs have been getting decrease each time, which is a bearish signal.
Finally, the shifting averages become resistance for Litecoin. Though earlier this week we noticed a bullish transfer in cryptocurrencies, led by BITCOIN which took the worth above these shifting averages. Patrons pushed above the descending trendline as properly, which was a bullish signal.
However, as we have now seen many instances in the previous few weeks, as highlighted in our 2021 Litecoin price prediction, consumers couldn’t hold the stress going, and within the final two days, the costs within the cryptocurrency market have reversed down. Litecoin has returned to the trendline and the shifting averages on the H4 chart, however this time from above. Now we are going to see whether or not these technical indicators flip into help for LITECOIN .
In the event that they maintain, then we should always see the LTC/USD flip bullish quickly, because the stochastic indicator is oversold as properly, which might be good for us, since we’re lengthy on Litecoin. If not, then it would head for the primary resistance at $145, which is an effective worth for consumers. So, we’re following the worth motion round right here to see what’s subsequent for Litecoin.