Litecoin cryptocurrency can be expected to rise further toward the next resistance level 76.40, former strong support from the start of June.
– Litecoin reversed from powerful support zone
– Likely to rise to resistance level 76.40
Litecoin cryptocurrency pair recently reversed up with the daily Piercing Line candlesticks reversal pattern from the powerful support zone located between the support levels 65.00 and 70.00, which has been steadily reversing the price from January, as can be seen from the daily Litecoin chart below. This support zone was further strengthened by the lower daily Bollinger Band. The upward reversal from this support zone started the active intermediate impulse sequence (C).
Given the strength of the aforementioned support zone, Litecoin cryptocurrency can be expected to rise further toward the next resistance level 76.40, former strong support from the start of June, acting as the resistance after it was broken earlier.
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