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LITECOIN- Crypto Chart of the Day

May 25, 2021
Frank Cabibi
LTCUSD 4H

Daily Crypto Technical Analysis: Litecoin recovered yesterday along with the rest of the altcoin market. LTC bounced after hitting lows from January of this year and is stuck on the 23.6% fib retracement level. Next resistance lies above at the 38.2% level where there is also a resistance line from around 209-220. MACD indicator showed the MACD line cross above the signal line yesterday meaning that an uptrend could be forming. 14-period RSI fell well below 30, but is now coming up to peak at 53. If the market continues to climb, so will Litecoin, and they will have to test multiple levels of resistance. But, a break in these levels could mean strong support in the future.

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