Litecoin, the seventh most important cryptocurrency in the market by volume of trade, is currently giving very good bullish movements from $ 52. With an increase of more than 11% in just two days, the opportunity is now played to end the technical correction given up to the 50% fibonacci level.
With a weekly R1 over $ 60, Litecoin tries to overcome this area of great importance for the short and medium term. So far 23% Fibonacci has been broken up again, so a move above $ 60 could be considered the end of the correction and then start looking for levels higher than the previous week at $ 63
We must wait as the price behaves over $ 60 and see if the buyers have the necessary strength to consolidate above this ceiling that currently slows the price. We see an RSI about to go on overbought, which means there is a chance of seeing a minimum retracement soon before continuing higher.
If it is possible to break the $ 60 upwards, we may see a consolidation at these levels this week, before breaking highs recently marked at $ 63