Litecoin (LTC) Bulls Are Back on Track After Retesting Support, Targeting $77

Starting this week in a sell mode, the bulls intercepted drops with a bounce and resumed bullish after retesting a broken resistance level as support

After breaking out of a key resistance to a three-month high during last week's pump, Litecoin (CRYPTO: LTC) faced a rejection at $77 and closed that week a bit calm.

Selling volume picked up this week and the price dipped under $70, though the bulls quickly intercepted the drops on Wednesday and the price recovered back above the key price level on Thursday.

The drops came as a retest of the recent break above the $68 level. As you can see on the daily chart, the bulls are back on track as it slowly increases, holding the mentioned level as support. We can expect more greens in the coming days.

An increase above the previous high would set the market for bigger growth in the coming weeks. The $94 level is an important resistance to watch for a test in the latest leg up. A flip through it could rally the price straight to the key psychological $100 level.

In the opposite direction, there are no signs of selling at the moment. But if LTC loses momentum again, a drop below the current weekly support could roll the price back to the monthly low.

LTC’s Key Level To Watch

In the latest surge, Litecoin’s bulls are trying to push back to $77. If they reclaim it, we may see a breakup to the $84 resistance level. The higher level to watch for an increase is $89.6.

While losing momentum could lead to another sell-off, there is close support at $68. If the price breaks lower, the $64 level would be the next support to consider for a drop, followed by $60.

Key Resistance Levels: $77, $84, $89.6

Key Support Levels: $68, $64, $60

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This article was generated by Benzinga's artificial intelligence engine and reviewed by a Benzinga editor.