Litecoin remains strong and shows intentions to seek more gains in this bullish rally of the crypto ecosystem. If you are interested in where the LTC price is heading, stay and read this post.
The long-term uptrend is being resumed
At the moment there is no rally that compares with the one that Bitcoin is carrying out, and despite the fact that it is generating certain positivism in other cryptocurrencies, most of the attention is being taken by BTC.
However we have already been seeing how Ethereum has been waking up strongly, Binance coin marked an ATH yesterday. And so different currencies that with their fundamentals have a very solid position in the ecosystem to take advantage of a general bull run.
Among those cryptocurrencies we must include Litecoin, which although it does not stand out too much, has always remained there as a cheaper and faster version than Bitcoin.
Today LTC shows a pretty solid behavior for the long term. It is behaving in a way that makes us think that it is ready to search for new all-time highs.
After the collapse that occurred in March, Litecoin managed to fully recover and is currently challenging the most relevant immediate monthly barrier, one that if crossed will leave the ground clear to search for the ATH zone.
Litecoin price monthly chart. Source: TradingView.
The scenario on the weekly chart tells us that Litecoin is poised for higher gains
When we analyze the chart with weekly candles, we realize that the bulls are also in control of the medium-term trend, thanks to a continuous succession of increasingly higher lows and highs.
Currently as I mentioned, the price of Litecoin is being hampered by the resistance around $ 136, if it is crossed the space would be clear to make significant gains.
When we detail the price action in this time frame, we realize that the current moment could be the end or near the end of a medium-term momentum, which should give way to some correction before continuing to rise.
That drop at this point would be totally healthy, picking up demand that takes advantage of discount prices to keep pushing Litecoin for profit.
Litecoin is willing to seek higher profits. Source: TradingView.
Short-term trend tells us that LTC could be ready to continue rising in the next few hours
On the daily candlestick chart we see how Litecoin seems to have found support at $ 122, and to rest long enough to resume the previous trend.
At the moment the odds are in favor of a close break of resistance at $ 136. For this to change, the support at $ 122 must be breached, which would be warning us of a correction in the medium-term trend.
LTC vs USD daily chart. Source: TradingView.
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