LTC Price Successfully Retests Its $100 Support Trendline!
Litecoin price has been sustaining above $100 with an intraday gain of around 5%.
The Moving Average Convergence Divergence (MACD) shows a continued decline in the red histogram. The LTC coin price is likely to continue to rise as its averages hint at a possible bullish convergence on the daily timeframe.
The SMA indicator shows a flat line above the Litecoin price chart. This indicates an upward price action for altcoins in the cryptocurrency space.
If the bullish sentiment intensifies, the LTC coin is likely to retest its $110 resistance level.
If the market favors the bulls at that point, this altcoin is likely to head towards its upper price target of $130 in the coming period.
If the bears outweigh the bulls, it is likely to break the support trendline of the triangle pattern and retest its $100 lows.
If the bearish sentiment intensifies, this could pull the Litecoin price towards the $90 lows.
