Over the past 3 days, Litecoin has shown growth of 15,12% against the background of the next jump, since its estimate exceeded the mark of $ 60. At the time of publication, the price of LTC remained slightly above $ 60.
1 hours
The 1-hour Litecoin chart showed stable growth registered after the last 5 days, which led to the formation of an upward channel. The channel was tested several times on the bottom trend line, and on the asset maps the upcoming correction. Litecoin overcame resistance at $ 58 with a recent surge on January 28, indicating a continued bull market presence. The main resistance of $ 62,21 was briefly affected, but minor corrections affected the coin.
According to the VPVR indicator, most of the transactions over the past 3 weeks have been around $ 57, which is a control point for Litecoin. The upcoming bearish pullback will be constructive only if the fall tests support levels at $ 58,98. Falling below support or POC will increase the likelihood of a crash that could lead Litecoin below $ 55. Although, this is unlikely to happen in the next few days.
The RSI also formed a bullish uptrend with the current market movement, indicating the possibility of another bullish growth after the correction. However, the moving average of 200 continued to be a strong resistance for LTC, which was tested during the last price pump.
1 day chart
Litecoin's 1-day chart confirms LTC commitment. The long-term LTC chart depicted the formation of a notable Cup and Handle pattern (i.e., CH pattern), which is a significant bullish pattern that usually occurs over a longer period of time. The model began to take shape from the beginning of November, and the neckline was tested several times over the past 3 months.
During the press, the CH pattern has fully formed, and the breakthrough should raise the LTC rating above the resistance line of $ 71. A positive breakthrough should allow Litecoin to fluctuate in the range from 71 to 78 dollars by mid-February.
Hack and predictor Aviator
Litecoin expects several days of correction in the short term, but it should bounce off support levels of $ 58,98. However, the long-term chart should be a silver lining for LTC investors.