Litecoin

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/litecoin-tests-ichimoku-clouds-lower-boundary/" data-wpel-link="internal">Litecoin Tests Ichimoku Cloud’s Lower Boundary</a><br></p>
<p style="text-align: justify"><strong>Litecoin (LTC)</strong> recently tested the lower boundary of the daily Ichimoku cloud, signaling a potential upward momentum if <strong><a href="https://en.coin-turk.com/bitcoin-surpasses-43000-amidst-market-speculation-and-etf-hopes/" data-wpel-link="internal">Bitcoin</a></strong> continues its rise to $73,000. Here are the details!</p> 
<h2 id="resistance-level-in-ltc">Resistance Level in LTC</h2> 
<p style="text-align: justify">A successful entry into the cloud could push LTC towards the critical resistance level of $93. The Ichimoku cloud provides additional support around $85.70. Staying above this cloud is crucial to maintain the upward trend. A break below the formation could increase selling pressure and potentially reverse recent gains. The 38.2% Fibonacci level at $85.09 may serve as the first line of defense for LTC. A break below this support could indicate a weakening upward trend and lead to further downward pressure.</p> 
<p style="text-align: justify">Additionally, the 50% Fibonacci level at $83.74 is a critical support area. Holding above this level is vital to maintain the bullish outlook. A drop below this point could indicate a potential trend reversal. Finally, the 61.8% Fibonacci level at $82.40, often referred to as the golden ratio, holds significant importance in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">technical analysis</a>. If <strong>LTC</strong> fails to hold above the $82.40 level, it could invalidate the current upward momentum and shift market sentiment.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-354575 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ltcc.jpg" alt="" width="753" height="416"></p> 
<h2 id="technical-data-on-litecoin">Technical Data on Litecoin</h2> 
<p style="text-align: justify">If LTC breaks the Ichimoku cloud, the next significant resistance to watch is $93. Significant selling pressure may be seen at this level. Conversely, a break below the $81 Tenkan plateau could indicate a potential trend reversal, warranting caution. On the other hand, the Spent Output Profit Ratio (SOPR) and adjusted Spent Output Profit Ratio (aSOPR) for <strong>Litecoin</strong> are above 1, indicating that more LTC transactions are occurring at a profit. This reflects positive market sentiment and fundamental strength, potentially signaling a strong upward trend.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/litecoin-tests-ichimoku-clouds-lower-boundary/" data-wpel-link="internal">Litecoin Tests Ichimoku Cloud’s Lower Boundary</a></h5>

Litecoin Tests Ichimoku Cloud’s Lower Boundary

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