Litecoin cryptocurrency can be expected to rise to the next resistance level 87.95, former strong support which has been reversing the price from November to March.
- Litecoin broke round resistance level 80.00
- Likely to rise to resistance level 87.95
Litecoin cryptocurrency recently broke the resistance area between the round resistance level 80.00 (which stopped the previous minor impulse wave 1 at the start of April as can be seen from the daily Litecoin chart below) and the 50% Fibonacci correction of the downward impulse from the end of March. The breakout of this resistance area accelerated the active short-term impulse wave 3, which belongs to medium-term upward impulse sequence (3) from the start of April (which started when the price reversed up from the major support level 65.00).
Given the strongly bullish sentiment that can be seen across the cryptocurrency markets today, Litecoin cryptocurrency can be expected to rise to the next resistance level 87.95, former strong support which has been reversing the price from November to March. The breakout of the resistance level 87.95 can lead to further gains toward the next key resistance level 95.00.
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