Litecoin (LTC), which has been falling for a long time, seems to have received a reaction from the critical support level in the past days. LTC, which took the opportunity from the rise of the leading cryptocurrency Bitcoin, recorded an increase of 5.5 percent during the day. Thanks to this rise, it has advanced to the middle Bollinger Band and is trying to break it. If the break occurs, he can find the opportunity to move up to the upper band. As the lower band is also in the trend support, it seems difficult to fall from the support.

Looking at the Awesome Oscillator, it is observed that LTC is trading below the zero line. Since it has been trading below this level for a long time, it may be looking for an opportunity to start the uptrend. After trying to break above the zero line in the past months, it gained downward momentum again due to the general decline in the market. Looking at the indicators in general terms, it is seen that falling below the support level is difficult and preparing itself to rise.

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It is seen that Litecoin has advanced to the first resistance level by reacting from the critical support level of $ 97.8. Although it left a liquidation needle below this support level, the fact that the candle closes did not occur below this level makes this region strong. In case of a possible decline, it can test this level again. However, if the bears gain strength as they approach this level, then it could slide down to the other support at $70.

Should the bulls gain strength, they will want to test the resistance at $122. A breakout of this level seems possible if the bears lose strength. If it confirms as support after breaking this level, it could try the resistance at $146. It can also easily reach $219 after breaking the resistance at $166. In order to reach an all-time high, it needs to gain 284 percent.