Litecoin bulls have a smile on their faces after they managed to break out of a descending trendline on the short term chart, but this breakout is short term and would prove difficult to sustain after a point where medium term stronger resistances will prove hard on the bulls to cross and sustain. LTC/USD is up more than 4 percent on day at $60.72, almost at high point of the day after it broke out late on Saturday on the 60-minute chart, of a descending trendline and has more upside left in this ongoing rally.
Difficulty would stare at the bulls’ faces once they reach $65 as that is where comes another descending trendline on 240-minute charts by when bulls will need momentum and fundamental news to be in their favour to cross and rally further, or else exhaustion would taper off this rally. rex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.
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