The cryptocurrency is enduring a blended begin to the day, with some cash rallying whereas others are buying and selling within the pink zone
The cryptocurrency market is having a blended begin to the day, with Bitcoin at present rallying whereas some altcoins are underperforming. Bitcoin is at present up by 3.5% and is seeking to surpass the $50,000 resistance degree at any second. Its weekly features at the moment are 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 practically 30% over the previous week in contrast with ADA’s 4% weekly features.
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 determine additional features within the coming hours.
Litecoin value outlook
The LTC/USD 4-hour chart is at present bullish after Litecoin’s wonderful efficiency in current days. LTC is up by greater than 15% over the previous seven days and will document additional features within the coming days. Its MACD line is within the bullish zone, whereas its RSI of 53 exhibits its efficiency is at present impartial.
After reaching the $167 pivot, Litecoin may very well be making a run for the primary main resistance degree at $172 over the subsequent few hours. Help from the broader cryptocurrency market can be sufficient to push Litecoin previous its second main resistance degree at $176. Until the rally extends longer, the $180 resistance degree 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 degree at $162 will come into play over the subsequent few hours. An prolonged sell-off interval might see LTC take a look at the second main assist degree at $157 earlier than the tip of the day. Nevertheless, LTC ought to comfortably avoid the sub-$150 degree within the coming hours.
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