Litecoin has been climbing increased along with the cryptocurrency market since late final yr, however the huge surge got here within the final week of March and lasted till the center of this month. However, the crypto market retreated decrease within the final two weeks and Litecoin misplaced greater than a 3rd of its worth because it fell from $335 to $210.
That was fairly a big decline, nevertheless it stopped at $207 and it has been making an attempt to show bullish since then. Consumers have pushed above the transferring averages, however the 100 SMA (inexperienced) become resistance on the H4 chart.
This transferring common was pierced yesterday, however he worth pulled again decrease, closing under it, in order that wasn’t a correct break. On the draw back although, the 50 SMA (yellow) was holding as assist, whereas as we speak the 20 SMA (grey) caught up and has become assist.
So, LITECOIN is buying and selling between these transferring averages and the vary has turned fairly slim. However, consumers are having one other try on the upside and it looks like the 100 SMA will most likely break now, which signifies that the bullish development will resume. We’re lengthy on this crypto, so we’re holding on to our Litecoin signal.