FxNews—Litecoin bounced off the $67.5 resistance, backed by the 100-period SMA. As of this writing, LTC trades at approximately $70.4, testing the 38.2% Fibonacci retracement level.
The primary trend is bullish because LTC/USD is above the 100-period simple moving average. Additionally, the Awesome Oscillator histogram is green and rising toward the signal line.
Litecoin Technical Analysis – 24-October-2024
From a technical perspective, the uptrend will likely resume with the next bullish target at $71.5, a resistance area backed by the 50% Fibonacci and the Fair Value Gap area.
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The immediate support rests at $69.7. The bullish outlook should be invalidated if LTC/USD dips below this support.