December 17, OctaFX – Litecoin has opened the new trading week strongly, with the LTCUSD pair gaining over five per cent intraday and regaining its place as the seventh largest cryptocurrency by market capitalization.
Technical Analysis: LTCUSD Bullsih Above $25.00
The LTCUSD pair is trading around the $25.00 level and has moved above its 100-hour moving average for the first time this month. If bullish momentum continues, the move higher could easily extend towards the $28.00 and $30.00 resistance levels.
- The LTCUSD pair is bullish while trading above the $25.00 level, key resistance is found at the $28.00 and the $30.00 levels.
- If the LTCUSD pair moves below the $25.00, sellers may test the $24.50 and $23.00 support levels.
This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.