Fundamental prospects surrounding the Litecoin Foundation remain bullish and supportive of the price surge.It has moved 100+% since december month from $22 price level.It has dethrone BitcoinCash(BCH/USD) from 5th position when it comes to market cap.
Bullish Case:
Litecoin has moved 50+% since 1st of this month and a possible pull back is likely to the preliminary support level around $39 price.
This level needs to hold for further bullish momentum to break the preliminary resistance level and test the major resistance around $60+ price.Breaking this zone would be strongly bullish for the pair.
Also, it has penetrated through ichimoku cloud and 200D-SMA , which is bullish for the pair and might act as mini support levels in the coming days.
Bearish Case:
If the preliminary support around $37 price level doesn't hold then it could early signs of bears control.Breaking down the major support level around $30 price would confirm the bearish sentiments.
Bullish Case:
Litecoin has moved 50+% since 1st of this month and a possible pull back is likely to the preliminary support level around $39 price.
This level needs to hold for further bullish momentum to break the preliminary resistance level and test the major resistance around $60+ price.Breaking this zone would be strongly bullish for the pair.
Also, it has penetrated through ichimoku cloud and 200D-SMA , which is bullish for the pair and might act as mini support levels in the coming days.
Bearish Case:
If the preliminary support around $37 price level doesn't hold then it could early signs of bears control.Breaking down the major support level around $30 price would confirm the bearish sentiments.