Litecoin Price Prediction: LTC recovery moves eye $233.00 inside rising channel


  • LTC/USD bounces off three-day low inside a bullish chart pattern.
  • A confluence of channel’s support, 50-SMA tests short-term sellers, bulls aim for February’s high.

LTC/USD picks up bids near $218.00, up 1.82% intraday, during early Monday. In doing so, the cryptocurrency pair recovers from the lowest since Friday as RSI pullback from overbought territory catches a breather inside a three-week-old rising channel.

Given the pair’s rejection to the previous consolidation, inside a bullish chart pattern, LTC/USD eyes to revisit the $230.00 round-figure during the latest upside momentum.

However, the stated channel’s resistance line around $233.00, followed by February’s high near $247.00, will be tough nuts to crack for LTC/USD bulls.

Meanwhile, sellers will find it difficult unless breaking convergence of 50-SMA and the stated channel’s support line, around $203.00, a break of which can drag the quote towards an ascending trend line from late January, currently around $168.00.

If at all, LTC/USD sellers dominate past-$168, February’s bottom surrounding $153 will be the key.

Overall, LTC/USD remains in an upward trajectory with a bumpy road to the north.

LTC/USD four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 217.9022
Today Daily Change 3.8972
Today Daily Change % 1.82%
Today daily open 214.005
 
Trends
Daily SMA20 189.1202
Daily SMA50 180.4222
Daily SMA100 152.2396
Daily SMA200 104.8313
 
Levels
Previous Daily High 227.9324
Previous Daily Low 213.9862
Previous Weekly High 224.279
Previous Weekly Low 180.0235
Previous Monthly High 246.9216
Previous Monthly Low 126.0637
Daily Fibonacci 38.2% 219.3137
Daily Fibonacci 61.8% 222.605
Daily Pivot Point S1 209.35
Daily Pivot Point S2 204.695
Daily Pivot Point S3 195.4037
Daily Pivot Point R1 223.2962
Daily Pivot Point R2 232.5874
Daily Pivot Point R3 237.2424

 

 

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