Litecoin (LTC) Attempts to Reclaim $50 Support level

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In Brief
  • Litecoin has broken out from a 889 day descending resistance line.

  • Daily technical indicators have begun to turn bullish.

  • LTC/BTC is struggling to break out from the ₿0.0055 resistance.

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Despite the rapid decline on September 2, the long-term bullish structure for Litecoin (LTC) is still intact. As long as the price is trading above the $42 support area, the possibility of bullish continuation remains valid. Breakout From Long-Term Resistance At the beginning of August, the Litecoin price broke out from a descending resistance line that had been in place for 889 days.

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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