LTC/USD daily chart

LTC/USD daily chart

Gate Trade LTC Saturday, April 25, 2020 325 0

The bulls are attempting to push Litecoin (LTC) above the overhead resistance of $43.67. If successful, a move to $47.6551 is possible. The bears are likely to defend this level aggressively but if crossed, a new uptrend is likely to begin.

Above $47.6551, the LTC/USD pair can rally to $52.2767, which might act as minor resistance. However, if the bulls can break above this level, a rally to $63 is possible.

Conversely, if the bulls fail to sustain the price above $43.67, the consolidation is likely to extend for a few more days. A break below $35.8582 will open the gates for a further decline. Therefore, the long positions can be held with a stop at $35.