FX.co ★ Litecoin towards new highs

The price of Litecoin edges higher even though the price of Bitcoin retreated in the short term. LTC/USD was traded at 132.69 level at the time of writing and it seemed determined to approach and reach new highs.

LTC/USD increased by 5.79% from 126.00 today's low to today's high of 133.29. In the last 24 hours, the altcoin is up by 2.71% and by 9.04% in the last 7 days.

LTC/USD extends its growth

LTC/USD resumed its growth after taking out the resistance represented by the downtrend line and after retesting the uptrend line. Now, it tries to make a new higher high that could activate further growth.

Technically, the bias remains bullish as long as the price stays above the uptrend line. The next upside target is represented by the weekly R1 (135.27).

LTC/USD forecast

A new higher high, a jump and closure above 132.68 could confirm further growth. 143.04 level is seen as a potential upside target if the rate continues to grow.