How to collect Litecoin (LTC) 5-day straight line

Litecoin (LTC) is performing at a high as seen in the last five days.

  • LTC shows the formation of a rising parallel channel pattern
  • At the time of writing, the price of LTC has decreased by 0.69 percent
  • LTC price recorded a 21.4% growth in 5 days straight rally.

LTC is conducting a bull run as evidenced by the formation of an ascending parallel channel pattern that touches key resistance at $66.

A key resistance zone has been a major obstacle for LTC to block any massive gains over the past two months, signaling a price reversal.

Nevertheless, even though the price of LTC has entered the resistance zone, there are still more conjunctures on the way.

Litecoin manages to hold support above $53.5.

The crypto market is taking a beating due to major corrections in 2022 that caused BTC and other major altcoins to fall.

Although Litecoin suffered a retracement, buyers’ support allowed the altcoin to hold above the key support zone of $53.5.

according to CoinMarketCapLTC price fell by 0.69% or trading at $82.59 at press time.

The support level was tested several times which allowed the bulls to make a strong comeback on September 7.

Additionally, the bullish reversal helped boost the buying momentum and the growing parallel pattern in the LTC recovery over the past three months.

LTC price is up for the fifth straight day with a 21.4% gain.

The bull current has touched the monthly key resistance at $66 and shows some difficulty in going higher. Any signs of a bearish reversal at this point will push the price lower towards the trendline.

To experience LTC corrections

On the other hand, if the coin’s buyers can successfully break the barriers of the upper key protection zone, the price of LTC could rise by 6.8% before touching the trend line.

Additionally, LTC price may bounce back from the resistance level and start a bearish trend.

Additionally, the increasing channel patterns are thought to cause further decline. With that in mind, LTC price has a strong tendency to breach a key support line by strengthening its support momentum.

Therefore, as long as LTC prices do not breach a key resistance level, Litecoin may face corrections.

The 20- and 50-day EMAs have been seen swinging sideways, indicating that the bear momentum may be slowing.

More importantly, a bearish cross cut between these slopes reinforces the $66 resistance. Litecoin’s RSI can be seen rising and showing growth in investor and buyer confidence.

LTC total market cap at $4.4 billion on the daily chart | Source:

Featured image from Blogtienao, Chart from

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