Markets Technical Analysis

Litecoin Could Follow In Ethereum’s Footsteps With a Sharp Increase

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • -Litecoin has broken out from a descending resistance line.

  • -There is support and resistance at $49 and $63.50

  • -The price has possibly created a short-term double top.

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Litecoin Could Follow In Ethereum’s Footsteps With a Sharp Increase
On July 25, the Litecoin (LTC) price broke out from a descending resistance line and has been increasing at an accelerated rate since. This is a sign that the price has begun a bullish trend and could continue increasing towards the resistance areas outlined below. Litecoin's Breakout The Litecoin price has been following a descending resistance line since April 30, when it reached a
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Valdrin Tahiri
Valdrin Tahiri

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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