您现在的位置是:Litecoin price bounces off $230 as bulls target 3 >>正文
Litecoin price bounces off $230 as bulls target 3
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛8949人已围观
简介If LTC resumes upside and breaks above resistance near $238, a breakout above another key resistance...
If LTC resumes upside and breaks above resistance near $238, a breakout above another key resistance zone could see bulls attack $300 or higher
Litecoin (LTC) is looking to bounce off support at $230 and target short-term resistance at $238. This follows a dip to lows of $220, which came after bears rejected bullish advances at the aforementioned zone. LTC is likely to bounce higher given the technical picture on the daily and 4-hour charts.
At the time of writing, Litecoin is trading at $234, slightly up over the past 24 hours by around 2.5%. The cryptocurrency, currently ranked 8th by market cap, is however stronger over the week as it remains 27% in the green zone.
Litecoin price upside picture
Litecoin price broke above resistance at $229 after its rejection near $240 sent it tumbling to $220. A clear break above the immediate resistance zone at $239 will likely see the LTC/USD pair move towards a three-year high. Beyond that, bulls will target the all-time high of $375.
The daily RSI and MACD suggest bulls have room to maneuver to the above targets.
As the daily chart shows, the horizontal resistance line around $239 is the main hurdle before a potential retest of $273, a price level marked by the 0.618 Fibonacci retracement level of the move from $375 peak to $25 low.
If bulls succeed in breaching that barrier, the next target could be the psychological $300 and then the 0.786 Fibonacci retracement level ($340). Achieving this milestone would put $375 into focus, which is Litecoin’s all-time high reached on 19 December, 2017.
The 4-hour chart suggests a retest of the $240 hurdle is even more likely, with LTC trading higher within a contracting rising wedge pattern.
The pair is also looking to validate a short-term bullish break from a descending trend line. A clear break to the upside could place Litecoin’s price near $246, and see bulls target the aforementioned levels on the daily log.
The 4-hour MACD is suggesting a hidden bullish divergence, while the 4-hour RSI is increasing towards the overbought territory. This is a continuation outlook that implies a stronger move is on the cards.
According to crypto analyst and trader Michael van de Poppe, Litecoin is undervalued and could surge to $450-$700 this summer.
“#Litecoin is heavily undervalued compared to #Bitcoin. That’s what you derive from the $BTC pair. Next to that an impressive amount of volume recently and strong bullish divergences. I’m expecting $LTC to run to $450-700 in May-July.”
Litecoin price downside move
A bearish reversal might surface if Litecoin price drops below support at the lower trend line of the contracting rising wedge. This will likely see LTC dip below $230 again, with the 50-day simple moving average (4-hour) providing support at $211.
Any further losses could see prices decline as low as support at $180 in the short term.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/298796.html
相关文章
Gundlach admits Bitcoin beats gold as stimulus asset
Litecoin price bounces off $230 as bulls target 3Renowned gold advocate Jeffrey Gundlach has switched lanes to the Bitcoin side after having a change...
阅读更多
OSIRIS REx asteroid sample return: NASA asteroid mission safely delivers asteroid sample
Litecoin price bounces off $230 as bulls target 3By subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.NASA’s OS...
阅读更多
ChatGPT can be tricked into generating Windows 95 keys
Litecoin price bounces off $230 as bulls target 3By subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time."End...
阅读更多
热门文章
- India’s first solar probe reaches orbit, sends stunning visuals
- Use oceans to combat climate change: 200 scientists
- Kia unveils one of the most versatile EVs you will ever see
- This is how the ‘methane man’s’ bacteria fights climate change
- UK invests in domestic nuclear fuel tech to challenge Russia's energy grip
- New AI technique could soon be used to triage wounded in Ukraine