Is Litecoin moving towards $ 150?
The price of Litecoin (LTC) has risen rapidly over the past two weeks and is now approaching the resistance area at$ 149.
The weekly chart shows that the price of LTC has been moving up since the beginning of March. It is approaching the resistance area at$ 149, the 0.382 Fibonacci retracement level of all previous downward movement, which coincides with June 2019 highs. If this rise continues and the price of Litecoin can break the resistance field at$ 149, it looks like the next resistance field will be at$ 187.
RSI still shows unconfirmed downward deviations, but despite this, both the MACD and Stochastic Oscillator are moving upward and show no signs of weakness.
The two-hour chart below shows Litecoin already breaking away from a declining resistance line and moving upward.
Similar to the weekly and daily time periods, technical indicators confirm the upward trend. So it looks like the LTC price will continue to rise to$ 149 first and probably$ 187 later.
But a drop below the support area at$ 100 levels would override this possible scenario.
In addition, CryptoAmserverdam, a cryptocurrency trader, shared an LTC / BTC chart indicating that it had fallen back into the low range and indicated that it expected a significant upward movement.