LTC appears to have discovered some help on the chart just under the $300 stage. The Litecoin value is organising for a possible run to $339.
Litecoin is a first-generation Cryptocurrency and is analogous in performance to Bitcoin.
The coin was created by Charlie Lee, ex google engineer and a well-respected determine within the Crypto neighborhood. The undertaking aimed to create a quicker, cheaper various to Bitcoin, permitting for better adoption.
Moreover, performance shouldn’t be the one similarity. The Litecoin value has adopted within the footsteps of its massive brother this yr.
From January the primary by to its $413 excessive on Might tenth, the coin had returned 239% to holders. Over the past six days, the worth has retreated 24% and is at present hovering above the psychological $300 stage, at $314.
Litecoin Value Technical Outlook
The value has run into the help of an ascending trendline on the 2-hour chart at $298. For the second, the development is holding, and LTC seems to be placing in a backside above the large determine.
Moreover, it’s now above a descending trendline at $311, from the twelfth of might excessive at $394.50.
So long as the Litecoin value stays above the descending development line, I anticipate a rally to $339.
That is the extent the worth bounced to after the earlier check of the road. If the worth can convincingly clear $339, the following goal is $360.
Nonetheless, if the development line at $298 fails, clearly, there could also be room on the draw back. This might cancel the brief time period bullish outlook.
LTC Day by day Chart
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