LTC/USDT daily chart

LTC/USDT daily chart

Gate Trade LTC Saturday, May 9, 2020 340 0

If successful, a rally to the $50-$52.2803 resistance zone is possible. Above this zone, the momentum is likely to pick up.

 

On the other hand, if the 7th-ranked cryptocurrency on CoinMarketCap turns down from the downtrend line and plummets below the 50-day simple moving average ($42.5), a drop to $36 is possible. The traders can retain the stops on the long positions at $42.