Litecoin surged to $ 174 by the second week of January. It joined the robust bullish development within the crypto market late, in the course of December final 12 months, however made up for the delay with some main good points for a couple of month.
Then it made a powerful retreat in January after the large surge, following the pullback of the remainder of the crypto market. The 20 SMA (grey) initially supplied help on the each day chart at round $ 130, and we noticed a bounce above $ 160.
However after the upside-down each day pin candlestick, which is a bearish reversing sign after the bounce, LITECOIN reversed again down, however the help at $ 130 twice extra, and the 50 SMA (yellow) as soon as, caught up with the worth, and yesterday, the LTC/USD bounced larger, to $ 156.
Right this moment, we’re seeing a pullback down, however consumers stay in cost general, so we’ll attempt to open a purchase sign if the retreat takes Litecoin again to the 50 SMA and a bullish reversing sample kinds down there. In the meanwhile, let’s observe the worth motion and see how far this retreat will go.