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Litecoin ended its sell-off and now is trading at 84.27 far above yesterday's low of 81.77. Bitcoin's current growth helped the altcoin to rebound as well. It has increased by 3.23% from yesterday's low to 84.41 today's high.
Despite the current rebound, LTC/USD is still down by 1.86% in the last 24 hours and by 3.19% in the last 7 days. The buyers are still in the game but a larger growth is still far from being confirmed.
As you can see on the H4 chart, the rate dropped within a down channel. This could represent a bullish formation. The altcoin turned to the upside again after retesting the uptrend line.
The false breakdowns announced that the sell-off could be over. The weekly pivot point of 85.93 and the downtrend line represent upside obstacles and immediate targets.
A valid breakout above the downtrend line may announce a larger growth and is seen as a buying opportunity.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
