Historical data shows that $145.90/$146 price region (area with the red sad face) has been a key resistance area for Litecoin (LTC). As a matter of fact, LTC attempted breaking that resistance in June 2019 but failed, due to the lack of trading volume (red area below the graph I have highlighted in red with a red arrow).
In January this year, Litecoin finally broke that price resistance, but it didn't hold for long going down shortly after to retest the region, where the same region acted as a resistance. In February Litecoin broke above the $145.90/$146 resistance again for the second time this year. Something to note this time around is that trading volume has gone up compared to June 2019 (green area below the graph I have highlighted in green with a green arrow).
Towards the end February, Litecoin dropped to retest the $145.90/$146 region which has now acted as a support (area with the green smiley face) with price bouncing back up.
I expect Litecoin to test the $254.80 region again with the trading volume we're getting + Institutions like Grayscale buying 80% of the mined Litecoin in February according Shaurya Malwa's publication on the 2nd of March 2021 on Decrypt.
This is no financial advice, this report/analysis is for educational purpose only. Trade at your own risk.
Please leave a like if you found this useful.
In January this year, Litecoin finally broke that price resistance, but it didn't hold for long going down shortly after to retest the region, where the same region acted as a resistance. In February Litecoin broke above the $145.90/$146 resistance again for the second time this year. Something to note this time around is that trading volume has gone up compared to June 2019 (green area below the graph I have highlighted in green with a green arrow).
Towards the end February, Litecoin dropped to retest the $145.90/$146 region which has now acted as a support (area with the green smiley face) with price bouncing back up.
I expect Litecoin to test the $254.80 region again with the trading volume we're getting + Institutions like Grayscale buying 80% of the mined Litecoin in February according Shaurya Malwa's publication on the 2nd of March 2021 on Decrypt.
This is no financial advice, this report/analysis is for educational purpose only. Trade at your own risk.
Please leave a like if you found this useful.