Litecoin looks strong after breaking key MAs

13 Tem 2023

LTCUSDT

The long tail on Litecoin's July 10 candlestick indicates that the bulls aggressively bought the dip below the 20-day EMA ($95).

To signal the beginning of a sustained recovery, buyers will need to overcome the barrier at the psychological level of $100. Subsequently, the LTC/USDT pair could advance to $106 and then aim for the overhead resistance at $115.

On the downside, the critical level to monitor is the 20-day EMA. If this level fails to hold, the pair may decline to the 50-day SMA ($89), potentially delaying the start of the next upward movement.