- Litecoin defends $40 support as the focus stays on $60 following a relatively bullish session.
The price is dancing between the 50 SMA support and the 200 SMA resistance in the 4-hour timeframe.
- Spot rate: $41.82
Relative change: -0.1296
Percentage change: -0.31%
The RSI 45 has sustained an upward movement from lows around 22.66. The break above 50 will cement the bulls’ presence in the market.
LTC/USD 4-hour chart
The bulls have no choice but to guard $40 support at all cost or else Litecoin could break short-term triangle pattern, refreshing lows around $30.
The MACD shows that the bulls have more influence over the bears. The traction the MACD makes above the mean line, the more Litecoin’s potential of trading above $50 increases.