This website uses cookies to ensure you get the best experience on our website

Technical Analysis for LTCUSD for 25th March 2022

Litecoin Breaks above a Multi-month descending Channel, LTC may Rally to $150

Past Performance of LTC

Litecoin's buyers are upbeat in a bullish formation and positioning themselves for more upsides in the medium term. LTC is up 40 percent from 2022 lows in a bullish breakout pattern above a descending channel, evident in the daily chart. Litecoin is tracking Bitcoin, adding 13 percent in the previous trading week.

Litecoin Technical Analysis

In a bullish breakout formation above the descending channel and $120, LTC buyers are in the driving seat. Notably, the upside is firm as LTC bull bars band along the upper BB—pointing to optimistic bulls expecting more gains in the medium term. Trading volumes are also decent, and every low above $120 offers entries for aggressive traders targeting $150 in the short term. A sharp, high-volume bear bar thrusting LTC back below $120 cancels the uptrend, swinging the coin to bear territory.

What to Expect of LTC

Litecoin bulls are in charge, closing above $120 and the multi-month descending channel per the candlestick arrangement in the daily chart. Considering the positive correlation with Bitcoin, Litecoin prices may have more headroom as long as BTC continues printing higher.

Resistance level to watch: $150

Support level to watch: $120

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020