LTC appears to have discovered some assist on the chart just under the $300 degree. The Litecoin value is organising for a possible run to $339.
Litecoin is a first-generation Cryptocurrency and is comparable in performance to Bitcoin.
The coin was created by Charlie Lee, ex google engineer and a well-respected determine within the Crypto neighborhood. The challenge aimed to create a quicker, cheaper various to Bitcoin, permitting for larger adoption.
Moreover, performance will not be the one similarity. The Litecoin value has adopted within the footsteps of its huge brother this yr.
From January the primary by means of to its $413 excessive on Might tenth, the coin had returned 239% to holders. During the last six days, the worth has retreated 24% and is at present hovering above the psychological $300 degree, at $314.
Litecoin Worth Technical Outlook
The value has run into the assist of an ascending trendline on the 2-hour chart at $298. For the second, the pattern 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 could excessive at $394.50.
So long as the Litecoin value stays above the descending pattern line, I anticipate a rally to $339.
That is the extent the worth bounced to after the earlier take a look at of the road. If the worth can convincingly clear $339, the following goal is $360.
Nonetheless, if the pattern line at $298 fails, clearly, there could also be room on the draw back. This may cancel the brief time period bullish outlook.
LTC Every day Chart
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