The writer's opinions are not investment advice. Litecoin [LTClatest ]'s buying revival mirrored the market's recovery as the price approached a critical juncture.
The rebound above the 20/50 EMAs caused a bullish crossover. A close above $64.5 might boost upside in coming weeks.
LTC traded at $64.36 at press time, up 4.8% in 24 hours. Bitcoin's recent gain handed LTC bulls a much-needed boost.
Due to its close association with ETH, LTC gained roughly 40% after rebounding from $47. Despite a glitch in the ascending channel trajectory,
bulls have held the pattern's lower trendline to increase bullishness. The 20 EMA (red) and 50 EMA (cyan) bullish crossover confirmed this tendency.
In the last two weeks, bulls tried to break the $62–$64 resistance zone. With the 20 EMA (red) still pointing north, buying comebacks might keep alts oscillating.
Potential goals include $68 and the upper channel's trendline. For a prolonged rebound, bulls must close over $64,000 resistance.
Any break below the pattern would signal a bullish reversal. The RSI broke over 60, revealing a bullish edge.
A northward drive could help the bulls. The CMF remained above zero and confirmed the buying preference.
Volume oscillator peaks and troughs indicated a vulnerable position. This indicator's rise could indicate rising buying pressure.
Adx struggled to improve Altcoin's dismal standing. Conclusion
LTC purchasers should continue the patterned trend after the 20/50 EMA crossed up.
The goals are unchanged. A reversal from $68 or the up-lower channel's trendline would imply a sell.
LTC's 30-day correlation to BTC is 93%. Bitcoin's movement is key to making a lucrative move.