- LTC/USD breaks out in the short term.
- Not a long run from here yet.
Litecoin the sixth largest cryptocurrency by market capitalisation, has given a small breakout on the short term chart, giving enough ammunition to the bulls to try and take control in their hands after a long time, although its a long drawn battle.
LTC/USD is up about a percent at $76.97 bouncing from the day’s low of $75.262. On the hourly chart, LTC has broken out of a descending trendline in an attempt to head a bit more towards North.
Although this upward journey could be limited upto $80-83 where it faces multiple resistances in the form of 21 days SMA and earlier lower high, both of which bulls must cross to take battleground in their complete control.
LTC/USD hourly chart: