of +0.8, it was very likely that LTC would follow the trend of the king of crypto. If Bitcoin can defend $20.8k and push northward once more, another move upward for Litecoin could materialize.Since June, Litecoin has traded within a range from $64.7 to $43.6. The mid-point of this range sat at $54. Since mid-September, Litecoin has consolidated around this level. In the past week, it was able to flip the mid-range value to support.
The band of resistance near the range highs at $64 was a bearish order block from early September. The breakout past the range showed that a retest of the same band of resistance would likely see a bullish reaction. At the time of writing, this zone could pose stiff opposition to the bulls’ attempts to drive prices higher. Therefore, a pullback to $64 and a period of sideways price action could ensue over the next week or two, before another leg upward.Santiment
Source: News Formal (newsformal.com)
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