- Litecoin value had a major breakout from a descending triangle sample.
- The digital asset re-tested the earlier resistance stage and has resumed its uptrend in the direction of $200.
- LTC faces virtually no boundaries on the way in which up as bulls maintain all of the momentum.
Litecoin had a serious breakout from a descending triangle sample on the 4-hour chart with a value goal of $185. After a small drop in the direction of the earlier resistance trendline, LTC bulls rapidly purchased the dip and have pushed Litecoin price as much as $154.
Litecoin value faces no vital boundaries on the way in which up
The preliminary breakout took Litecoin value as much as $158.68 and the digital asset is at the moment buying and selling at $154. Climbing above $158.68 is sure to push LTC in the direction of its preliminary value goal of $185 and the psychological stage of $200.
LTC/USD 4-hour chart
The In/Out of the Cash Round Value (IOMAP) chart reveals virtually no resistance above $155. Essentially the most vital resistance space is positioned between $170 and $175 with near 1 million LTC in quantity from 35,000 addresses.
LTC IOMAP chart
Moreover, the variety of whales holding a minimum of 10,000 LTC cash has elevated considerably over the previous month from a low of 512 on December 27, 2020 to 527 at the moment. This metric reveals that giant holders have been accumulating Litecoin for the previous month and proceed doing so.
LTC Holders Distribution chart
Nonetheless, on the 15-minute chart, Litecoin has established an important assist stage at $153 within the short-term and it’s having lots of bother climbing above $156.
LTC/USD 15-minute chart
One other rejection from $156 would rapidly push Litecoin value right down to $153. Shedding this important assist stage will drive LTC right down to $149 within the short-term.