The main hedge asset of the crypto market has finally shown growth. A $55 level hit was a strong impulse that drew a potential resistance zone of $65. Charlie Li’s tweets along with Lightning Network (LN) talks are doing their job.
There’s been a hit of the $55 support zone. Strong movement along the hit has proven this. No back retest has happened yet. There might be a good situation for buys.
For now, the support zone is $55 and the resistance zone is $65. But the movement in LTC is steady enough, so zones may seriously shift in the upcoming week.
In general, everything is quite good. LTC is a solid asset, so in case of any negative market movement, LTC acts as a direct beneficiary.
The news is positive and stable.
Since April, a very long and powerful uptrend has formed in LTC. It’s quite a rare stability rate for a cryptocurrency.
What to expect:
$65 tests and possible upwards movement.
A decrease in volatility and possible $55-$65 channel formation. It’s very typical behaviour for LTC.