{"id":111936,"date":"2021-02-09T14:06:48","date_gmt":"2021-02-09T14:06:48","guid":{"rendered":"https:\/\/precoinnews.com\/?p=111936"},"modified":"2021-02-09T14:06:48","modified_gmt":"2021-02-09T14:06:48","slug":"litecoin-retraces-at-174-resistance-poises-for-fresh-uptrend","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-retraces-at-174-resistance-poises-for-fresh-uptrend\/","title":{"rendered":"Litecoin Retraces at $174 Resistance, Poises for Fresh Uptrend"},"content":{"rendered":"
Litecoin has broken the previous price range as LTC rallied above the resistance at $160. The breakout was short-lived as the price got stuck below $175 high.<\/strong><\/p>\n The recent high has to be broken for the continuity of the uptrend. In the previous price action, the recent high was broken as the market reached a high of $175. For the past week, buyers and sellers were in price tussles between $140 and $160. <\/p>\n The bulls have the upper hand as the price broke the $160 resistance. Litecoin is trading at $168 at the time of writing. The cryptocurrency is expected to rally to a $200 high if buyers push the price above the $175 resistance. Further bullish momentum is likely on the upside. Conversely, if the price turns down from the $175 resistance, the bears might want to sink the altcoin below the $160 support. The market will fall to the previous price range.<\/p>\n In today\u2019s candlestick, the price action is indicating a long wick. It indicates that there is strong selling pressure at the $180 resistance zone. LTC is below the 80% range of the daily stochastic. The market was earlier in an overbought condition. The cryptocurrency is in a downward move. The market is at level 62 of the RSI indicating that there is not enough room for price to rally on the upside.<\/p>\n <\/p>\n Major Resistance Levels \u2013 $180 and $200<\/p>\n Major Support Levels \u2013 $160 and $140<\/p>\n Litecoin bulls fail to push on the upside as the market resumes a downward move. On February 9, uptrend; a retraced candle body tested the 50% Fibonacci retracement level. This retracement indicates that the coin will rise to level 2.0 Fibonacci extension level or a low of $165.51. The price action has already confirmed this level as the market is likely to move up. <\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.<\/i><\/p>\nLitecoin indicator analysis <\/h2>\n
Technical indicators: <\/h3>\n
What is the next move for Litecoin? <\/h2>\n