Charted: Litecoin Approaching Breakout, Why LTC Could Rally If It Breaks $150

Charted: Litecoin Approaching Breakout, Why LTC Could Rally If It Breaks $150


Litecoin price declined heavily below $150, but it found support near $115 against the US Dollar. LTC is currently rising, but it is likely to face a strong resistance near $150.

Litecoin started a strong decline below the $165 and $150 support levels against the US Dollar. The price is rising from the $115 zone and it is testing the 100 simple moving average (4-hours). Earlier, there was a break below a key ascending channel with support at $165 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). The price must clear the $150 resistance to move back into a positive zone. Litecoin Price Recovers above $140

Recently, we saw a sharp decline in bitcoin, Ethereum, ripple and litecoin against the US Dollar. LTC price formed a short-term top near the $185 before starting the drop. It broke many important supports near $165 to move into a bearish zone.

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There was also a break

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