LTCUSD

Last week in our previous post (https://fxsits.com/the-ltcusd-to-soar-bullish-as-price-approaches-resistance-level/) we wrote about Litcoin. In that post price traded below level $159 which acted as our resistance level. Today price trades at $166, above the resistance level we mentioned in the previous post.

LTCUSD H4 chart 9 February 2021
LTCUSD H4 chart 9 February 2021

Our analysts believe that price could move towards its major resistance level $185. Looking at the H4 and daily chart , we see price gaining a strong bullish momentum. This price action gives us the confidence of price testing the previous 2020 higher high. However if price finds resistance where it currently trades . Then it could retrace back to level $159 which could act as our support .

We at FXSits still hold strong bullish belief for the litcoin. Possibilities are that we could see price trade to its all time high this year. The Litcoin all time high is set at level $360. We’ll keep following the analyzing its price action .

LTCUSD Daily chart 9 February 2021
LTCUSD Daily chart 9 February 2021

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