empty
16.04.2021 09:54 AM
Litecoin False Breakout?

Litecoin plunged in the last hours after reaching 297.00 level. The outlook is bullish, so the current decline could be only a temporary one. LTC/USD decreased as the price of Bitcoin, Ethereum, and Ripple dropped as well.

The crypto market has retreateded a little after the most recent amazing rally. Litecoin could test the immediate support levels, former resistance, before resuming its upwards journey.

LTC/USD Correction!

This image is no longer relevant

LTC/USD has managed to jump above the ascending channel's upside line trying to reach the $300.00 psychological. The breakout above the upside line and through the weekly R1 (277.59) indicates strong buyers and potential further growth.

The crypto has found resistance right below the third warning line (wl3) of the former descending pitchfork and now is retesting the upside line.

Consolidation above the upside line could lead to a breakout above the third warning line. Jumping could the warning line could bring a new long opportunity.

Litecoin Outlook!

A minor consolidation above the broken upside line followed by a valid breakout above the third warning line (wl3) could indicate that LTC/USD may rise higher and reach fresh highs.

Also, jumping above the 300.00 level could represent a new bullish signal.

Ralph Shedler,
Especialista em análise na InstaForex
© 2007-2025
Selecionar intervalo de tempo
5
min
15
min
30
min
1
hora
4
horas
1
dia
1
s.
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.