Litecoin (LTC) – hits fresh 6-months high

Litecoin (LTC) – hits fresh 6-months high

Posted on Tuesday, November 9 2021 at 9:32 pm GMT+0000

Litecoin (LTC) – Short-term analysis

Litecoin (LTC) finally made it after an extended period of stagnation and skyrocketed to hit a 6-months high at around $272.11. The price gathered momentum when it tested the Ichimoku cloud and when the TD Sequential indicator signaled a strong support area within that confluence zone.

With the bulls dominating the scene, it seems like LTC is poised to advance further towards the next critical resistance at $283.12 in a first degree, followed by the psychological level of $290.

However, as the bull run is too overextended at this stage, corrective moves are expected to take place anytime soon, with the first support lying at around $258.62.

Suppose it gives up in favor of the sellers. In that case, the crypto could plummet towards the $232.57 level, followed by the area established by the Ichimoku Kumo and the TD Sequential indicator’s support around $200.

In the meantime, the MACD indicator stays in the positive territory at the H4 chart.