#Litecoin price analysis
The long tail on Litecoin’s July 10 candlestick shows that the bulls aggressively purchased the dip below the 20-day EMA ($95).
Buyers will have to overcome the barrier at the psychological level of $100 to signal the start of a sustained recovery. The LTC/USDT pair could then advance to $106 and subsequently strive to reach the overhead resistance at $115.
The important level to watch on the downside is the 20-day EMA. If this level fails to hold, the pair may descend to the 50-day SMA ($89). Such a move could delay the start of the next leg of the up-move.
