LTCUSD → Breakthrough of two-year resistance

1 jun 2023

LTCUSDT forms a resistance breakout after a small false breakout. The coin does not fall much after FB, forms a retest and breaks the line.
Bulls are trying to take control of the situation and so far everything is working out successfully.



A strong support line of 91.23 is being formed. If the bulls can hold this area, then Litecoin will show us an excellent growth towards the resistance of the ascending channel.
The fundamental component for LTC is quite good, the network is constantly being updated and activity has been increasing in this network lately.



A global triangle is forming on the chart, the price tends to test the resistance of the set-up. A slight pullback is possible, but in the medium term I expect a breakthrough of the upper limit.
Moving averages act as support.

Strong support: 91.23, previously broken resistance line and 83.66
Strong resistance: 95.00, 102.53
I expect the growth to continue after the resistance is broken. LTC in the market feels a certain confidence that can allow the price to get stronger.

Sincerely, R. Linda!