Litecoin Price Fall Reach $54, Come Back Up Pass $100 Amid Big Resistance Test Dem
Litecoin price waka yan volatile mojh october time. E start to rise reach $124 for October 1 and e still dey above $100 support since late September. But LTC fall sharply from resistance high $136 reach low $54 for October 10, e broke below the 21- and 50-day moving averages enter oversold area. Dem strong buying for $54 push Litecoin back above $100, now di coin dey trade near $95. Immediate resistance level be $100, $120, and $140, while support levels be $60, $40, and $20. If price fit break and hold above $100, e fit continue di bullish trend and settle range between $100 and $125. But if e no pass $100, e fit cause price to test lower support levels again. Traders suppose dey watch di 4-hour chart for range-bound movement between $90 and $105, use moving averages and resistance test if dem wan catch breakout or breakdown signal. The current pullback and rebound na short-term buying chance, and if e make strong move pass key resistance, e go decide di medium-term trend.
Bullish
Litecoin sharp drop go down reach $54, then quick rebound pass over $100 show say demand strong for oversold levels, this dey suggest say momentum dey bullish. For short term, traders fit take advantage of bounce chances between $90 and $105. If e hold break pass $100 and key moving averages, e go show say uptrend dey resume, and if e fit beat higher resistance for $120 and $125, e go even strong bullish feeling for medium term. If e no fit clear these barriers, e fit make am test lower supports again, but overall accumulation for now levels show say bias dey positive.