Litecoin price found bids near $150-151 and recovered against the US Dollar. LTC/USD is currently showing positive signs above the $155-156 resistance.
During the past three days, we saw a downside move from the $170 pivot level in litecoin price against the US dollar. The LTC/USD pair traded close to the $150 level before buyers appeared.
Looking at the chart, the traded as low as $151.01 before starting an upside correction. It climbed recently and moved above the 23.6% Fib retracement level of the last downside move from the $168.50 high to $151.00 low.
More importantly, this week’s followed key bearish trend line with resistance at $157 was broken on the hourly chart of the LTC/USD pair. The pair even moved above the $158 level and settled above the $156 resistance.
At the moment, the price is struggling to clear the 50% Fib retracement level of the last downside move from the $168.50 high to $151.00 low at $159.80. A clear break above $159.80 and $160.00 is required for buyers to gain upside momentum. Read more from ethereumworldnews.com…
thumbnail courtesy of ethereumworldnews.com