The cryptocurrency is enduring a combined begin to the day, with some cash rallying whereas others are buying and selling within the pink zone
The cryptocurrency market is having a combined begin to the day, with Bitcoin at present rallying whereas some altcoins are underperforming. Bitcoin is at present up by 3.5% and is trying to surpass the $50,000 resistance stage at any second. Its weekly positive factors are actually closing in on 20% following its rally yesterday.
Ether can be up by lower than 1% and is near surpassing the $3,400 mark. Binance Coin (BNB) has overtaken Cardano (ADA) to change into the third-largest cryptocurrency by market cap after rallying by almost 30% over the previous week in contrast with ADA’s 4% weekly positive factors.
Nevertheless, some altcoins like Solana (SOL), Terra (LUNA), Uniswap (UNI) and Avalanche (AVAX) are all buying and selling within the pink zone. Litecoin is up by lower than 1% and will look to ascertain additional positive factors within the coming hours.
Litecoin worth outlook
The LTC/USD 4-hour chart is at present bullish after Litecoin’s glorious efficiency in latest days. LTC is up by greater than 15% over the previous seven days and will document additional positive factors within the coming days. Its MACD line is within the bullish zone, whereas its RSI of 53 reveals its efficiency is at present impartial.
After reaching the $167 pivot, Litecoin may very well be making a run for the primary main resistance stage at $172 over the following few hours. Help from the broader cryptocurrency market can be sufficient to push Litecoin previous its second main resistance stage at $176. Until the rally extends longer, the $180 resistance stage might cap the short-term motion of the cryptocurrency.
LTC/USD 4-hour chart. Supply: TradingView
Nevertheless, if Litecoin drops beneath the $167 pivot once more, the primary main assist stage at $162 will come into play over the following few hours. An prolonged sell-off interval might see LTC check the second main assist stage at $157 earlier than the top of the day. Nevertheless, LTC ought to comfortably avoid the sub-$150 stage within the coming hours.
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