Technical Analysis for LTCUSD for 16th January 2023
Litecoin Surges 114% in 6 Months, LTC Could Retest $100
Past Performance of LTC
Litecoin Technical Analysis
Litecoin is within a bullish breakout formation following gains in the first week of January. With buyers resilient and inching higher, the breakout is valid as long as LTC is above $80. Note that the upside momentum is also strong, with bars binding along the upper BB at the back of expanding volumes. Despite the upside slowing down, buyers are in control and can load the dip targeting $100. This preview will be null if LTC sinks below $80 and December 2022 highs.
What to Expect from LTC
Litecoin is up 114% from June 2022 lows, outperforming the USDT and leading the crypto surge. Buyers may lead the way going forward ahead of the expected LTC halving. Accordingly, optimistic traders can double down on dips above $80, expecting the coin to chart above $100.
Resistance level to watch: $100
Support level to watch: $80
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