- Since mid-Could, LTC has been buying and selling above the psychological stage of $90.
- If the altcoin is ready to keep above $91.50, it may erase the previous for LTC to hit $100.
- Alternatively, if LTC is unable to remain above $90.51, the altcoin will probably fall beneath $90 once more.
In April, Litecoin (LTC)’s restoration try got here to a halt after Bitcoin (BTC) was rejected on the essential $30,000 stage. In consequence, the worth of LTC fell again beneath the psychological stage of $90. Since then, LTC has not been capable of rally above this stage.
Nonetheless, CoinMarketCap reported that LTC was lastly in a position to take action on Could 16, 2023, and the altcoin has been buying and selling above $90 ever since. Moreover, LTC was buying and selling at $91.31 after a worth decline of 1.94% previously 24 hours.
Following the latest worth decline, LTC has weakened towards the 2 market leaders, Bitcoin (BTC) and Ethereum (ETH) by round 1.28% and 1.84% respectively within the final daytime. Nonetheless, LTC’s weekly efficiency was capable of stay within the inexperienced at +4.32%.
LTC worth was hovering round the important thing help stage at $91.50 at press time. Ought to the altcoin shut as we speak’s buying and selling session beneath this stage, it may trigger the 20-day EMA line to drop to $88 within the subsequent 24-48 hours. A break beneath this stage will trigger LTC to drop additional to $84.30.
Alternatively, LTC closing as we speak’s candle above $91.50 will open the way in which as much as $100 within the coming days. A technical indicator on the crypto’s each day chart, nonetheless, recommended that the worth of LTC would shut beneath the important thing help stage on the finish of the day.
At press time, the each day RSI line on the LTC chart was sloping down in direction of oversold territory. Nonetheless, the each day RSI line was nonetheless buying and selling increased above the each day RSI SMA line. On high of that, the 9-day EMA and 20-day EMA strains have been appearing as help for the worth of the altcoin, and the 9-day EMA was buying and selling increased above the 20-day EMA line.
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