Since the encryption market has suddenly turned into upward gears, Litecoin is about to start running the new Altcoin season. With an increase during the day by 5.82 %, Litecoin is close to overcoming critical resistance. With a possible outbreak, Litecoin may rise to $ 165 in the next two days.
Is this the beginning of a Litecoin raising towards the $ 2000 psychological brand? Let’s discover.
LTC price procedures: head formation and inverted shoulders
In the daily graph, the LTC price trend reveals a side shift. The crucial parallel boundaries of the monotheism range are in the psychological mark of $ 100 and the top ceiling at $ 138.
Currently, Litecoin is trading $ 137, creating a second rising candle in a row. Yesterday, the price of Litecoin increased by 6.01 %, followed by an increase inside the day about 6 %. This pushes Litecoin by approximately 12 % in the past two days. With a bullish return from the 38.20 % Fibonacci level at $ 121, Litecoin challenges the upper ceiling.
The upper ceiling coincides with the Fibonacci level by 61.80 % at $ 138. With a new hard candle, Litecoin overcame the previous high swing, providing a potentially potential gathering.
Along with the outbreak of the domain, Litecoin also displays the possibility of mobilizing the Breakout Breakout on top of pronunciation. The neckline for this very bullish style coincides with the width area of $ 138. Thus, the Litecoin Rally is about to create a new upward trend.
Supporting upward opportunities to recover, technical indicators maintain a positive position. In the daily chart, the Si -Mobile Mediterranean lines (EMA) maintain a positive alignment.
Moreover, the MACD lines and the signal lines maintain a bullish direction with an increase of green graphs. Consequently, technical indicators support upward opportunities without any difference.
Litecoin price goals: How high is it?
According to the level of Fibonacci to the direction, it is likely that the outstanding rise in Litecoin will exceed the psychological mark of $ 150. This will put the level of resistance approximately $ 165 on the upward radar.
On a longer time frame, the level of 1.618 Vibonacci at $ 208 is a potentially upward goal. This highlights the enormous potential of more than 50 % in Leitcoin.
On the other hand, the decisive support levels of Litecoin are $ 129 and $ 121.
