Litecoin price analysis: LTC/USD outperforming seen up 25% on Wednesday

  • Litecoin price up around 20% on Wednesday
  • No official news for now, but anticipation for Litepay among investors
  • Resistance notable at $215, support at 200 DMA, $115

 

The Litecoin price is outperforming much of its peers, up as much as 20% during trading on Wednesday. There hasn’t been anything official to hit the wires, in terms of updates from the Litecoin camp yet. However, as previously reported this week, many investors are still waiting for an update from the Litecoin development team, on their new payments solution known as Litepay.

Within recent trading, the price has broken some resistance, which was seen at the 61.8% Fibonacci and the 100 DMA, this was around $173. This move observed now, has allowed bulls to regain some firmer momentum.

Technically, LTC/USD next resistance seen at $215, which may prove a to be a challenge, 50% Fibonacci and an evident supply zone. Support is seen at 200 DMA, $115, where the price also printed lows respectively on, the 2nd and 6th February. 

 

LTC/USD daily chart

 

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