Charted: Litecoin Surges Above $65, Why It Could Test $70-$72

Charted: Litecoin Surges Above $65, Why It Could Test $70-$72


Litecoin price is gaining momentum above $65.00 against the US Dollar. LTC is likely to continue higher towards the $70.00 and $72.00 resistance levels in the near term.

Litecoin remained well bid and surpassed the $65.00 resistance zone against the US Dollar. The price is now trading nicely above the $66.00 level and the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $63.00 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). The price is likely to continue higher above the $68.00 and $70.00 resistance levels. Litecoin Price is Surging

In the last technical analysis, we discussed why litecoin could surge above $65.00 against the US Dollar. LTC price did gain momentum and broke many hurdles near $64.00 and $65.00.

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The recent upward move was such that the price broke the 76.4% Fib retracement level of the downward move from the $66.60 swing high to $61.07 swing low.

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