Litecoin was recently supported in the vicinity of $44, and the price was re-established on the 20-week mean movement of the index, a short line that had been repaired more than before. However, the main repression at the weekly line level has not been lifted, and the current rebound is first tested at US$ 62.61.

The 44-dollar area brings phase support.

From the weekly line structure, there have been a number of previous buyout reactions in the vicinity of $44, and this upturn indicates that the market still has the capacity to take over in the region. The return of prices to the top of 20 weeks of EMA means that the pre-existing vulnerability has eased, but this change is not yet sufficient to confirm that the trend at the larger level has been reversed.

62.61 and $80.56 are two key barriers.

Currently, the nearest resistance position above LTC is 50 weeks at EMA, equivalent to approximately US$ 62.61. If the price can stand at this position, the rebound space will be further opened.

More important is the pressure position at 200 weeks of EMA, about $80.56. According to the article, this position will determine whether the round rebound is only a gradual rebound or whether it can evolve into a more sustained upward trend.

  • Week 50 Week EMA: About US$ 62.61
  • EMA: About $80.56
  • If you break through any further, you can see it up or near $100.

Declining triangles still constrain medium-term trends

In the larger structure, LTC is still in the decline triangle, which means that in the medium term, the trend is not out of its grip. If the price is subsequently re-established for 200 weeks, with the continuous cooperation of the purchase, EMA, the next step may be to test the triangle around $100.

However, if there is a lack of sustained funding to follow up the rebound and the prices are again blocked, the decline in the triangle will continue to dominate the weekly line and may again slow down.

Improvements in weekly linear kinetic energy indicators

In terms of technical indicators, AO, RSI and MCD have been rehabilitated more than before. AO recovered from -0.33 to 0.08, RSI from 30 to 48.74, indicating that prices had risen significantly from oversold.

At the same time, the AO column chart has been improved from -32.209 to -7.692, and the MACD also appears to be viewing crosses, MACD wire - 5.163, signal line - 6.660. These changes are indicative of the recovery of weekly kinetic energy, but real recognition still depends on effective price breakthroughs of $80.56.