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Litecoin Price Forecast: LTC/USD makes charge towards $50 level – Confluence Detector

  • LTC/USD bulls have taken charge in the early hours of Saturday.
  • Daily confluence detector has one healthy support level at $44.20.
Litecoin Price Forecast: LTC/USD makes charge towards $50 level – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD daily confluence detector

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LTC/USD has gone up by $44.18 to $47.19 in the early hours of Saturday as the bulls took charge. The daily confluence detector shows a lack of strong resistance levels in Litecoin's path back to the $50-zone. On the downside, we have one healthy support level at $44.20, which has the one-day SMA 5, one-day Previous Low, one-week Fibonacci 38.2% retracement level, one-day SMA 100 and 4-hour Previous Low.

If the bulls retain control of the market, they should be able to push LTC/USD above the $50 psychological level.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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