Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Litecoin fills an inefficiency on the charts, and a pullback to an area of interest was expected The momentum continued to favor the bulls, and demand could fuel further price gains Litecoin [LTC] has performed […]
The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The momentum continued to favor the bulls, and demand could fuel further price gains
An aggressive move upward could follow in the coming days and traders can watch out for a dip to $80 to buyLitecoin had a strongly bullish outlook. It broke out past the range highs at $73.3 on 23 November. The selling pressure in December saw LTC revisit the bullish order block at $60, which was also close to the mid-range value at $60.3.
The RSI was in overbought territory but momentum continued to be strongly bullish, as the daily and 12-hour timeframes did not note a divergence yet. Similarly the OBV has also ascended northward swiftly over the past two weeks, to reinforce the idea of strong buying pressure.
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