In today’s Litecoin technical analysis we will delve into the details of the pair’s price action in the 4-hour chart.
Litecoin is currently attempting to break above the $72.32 resistance level, having successfully escaped from the bearish channel. This indicates that the LTCUSD price is gaining bullish momentum and could target higher levels in the near future. However, should the Litecoin price fail to sustain this upward movement and drop below the kernel line, we might expect a reversal of the trend and see further declines towards the $70.6 support level, and possibly the $69.6 deck.
On the other hand, if the Litecoin price manages to cross above the $72.3, the uptick momentum would continue to increase and lead to the next hurdle mark around the 74.43 resistance level. This would confirm the bullish scenario and open the door for more gains in the LTCUSD pair.