LTC is currently trading within a well-defined wide range, bound by a strong support zone near $63 and a resistance zone around $130–$140. The price has once again bounced from a rising support trendline that has held firm since 2020, confirming its significance as a long-term bullish structure.Each time price approached this rising trendline within the support zone, it has historically led to a reversal or a strong upward move. Currently, LTC is showing signs of support around this zone again, suggesting the potential for another bounce.
However, the range-bound nature of the chart implies that until a breakout above resistance or breakdown below support occurs.
DYOR, NFA
#LTCUSDT #Litecoin
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.