Cryptocurrencies

Litecoin Pauses Before The Next Leg Higher

Litecoin has begun trending on the upside trend, signaling a major bull run after finding a strong support above $125 price. Hence, LTC price is likely to break above the $135 resistance. Lately, Litecoin saw a sharp rise in the market, accelerating above Bitcoin, Ethereum, Ripple XRP to become stable against the US Dollar. After finding a crucial support above $125 price, LTC/USD trade pair has recently bounced back on the upside, rising above $130 price. LTC/USD trading pair is accelerating high in the market even above Bitcoin, Ethereum, Ripple XRP. Litecoin, as at press time, has tested the $131.40 level and it is currently moving high in the market.After trading low around $129 level, the altcoin recently climbed above $131 resistance level with 12% added value in the last 24 hours, and it is moving close to $135 as it continues to trend high in the market.

Source

The buyers have taken out the sellers at the daily supply at $137, with additional buyers for back up at the $115 level.

Because momentum is still to the upside and because of the upcoming halving (on August 6, just 73 days away the block mining reward halves every 840,000 blocks, and this one will see it decrease from 25 to 12.5 coins), look for price to move to the next level of major sellers at daily supply at $187.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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