Litecoin (LTC) Recovers above $275 Support, May Resume Uptrend

Key Highlights
Litecoin resumes an uptrend above $275 support
The altcoin faces rejection at level $310

Litcoin ( LTC) Current Statistics
The current price: $306.30
Market Capitalization: $25,869,734,534
Trading Volume: $6,852,822,773
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis May 18, 2021
Litecoin has been in a downward movement since May 10. LTC/USD has fallen and found support above $275. The altcoin is recovering but the upward move is facing rejection at level $310. Litecoin is fluctuating below the resistance at $310. LTC price will rally above $325 if the bulls break the minor resistance at $310. However, if the bulls fail to break the $310 resistance, the bears will attempt to break the support at level $275. A break below $275 support will cause Litecoin to decline to $200 low.

Litecoin (LTC) Technical Indicators Reading
LTC price is above the 25% range of the daily stochastic. It indicates that the coin is in a bullish momentum. The crypto’s price is above the 50-day SMA but below the 21-day SMA. If price breaks above the SMAs, the coin will resume the uptrend.

Conclusion
On the 4–hour chart, Litecoin is rising on the upside. The upward move is stalled at the $310 resistance. On May 17 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. This retracement indicates that the market will rise to level 2.0 Fibonacci extension or the low of level $324.74

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results