Technical Analysis for LTCUSD for 21st April 2022
Litecoin Completes Retest, LTC Bulls Aiming for $135
Past Performance of LTC
LTC prices are firm on the previous trading day and on the cusp of closing above the middle BB. From the LTC candlestick arrangement in the daily chart, sellers still have control from a top-down analysis. Even so, the close above last week's highs and $115 may reinvigorate determined buyers targeting $135—or better in the short-term.
Litecoin Technical Analysis
Technically, the correction of early April 2022 constituted a retest following an impressive breakout formation in mid-March 2022. Based on the formation in the daily chart, it is highly likely that Litecoin prices may float back to March 2022 highs. Accordingly, aggressive LTC traders may buy on dips provided prices are above $100 as they target $135. Such a move would reaffirm buyers of mid-March and possibly set the foundation for another leg up towards $150 in the medium term.
What to Expect from LTC
Buyers are shrugging off sellers and solidifying their position reading from the development in the daily chart. A sharp close above $120 may draw more buyers, driving the coin towards March 2022 highs.
Resistance level to watch: $120
Support level to watch: $100
Disclaimer: Opinions expressed are not investment advice. Do your research.
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