• Litecoin reversed from the support zone
• Likely to rise to resistance level 165.30
Litecoin cryptocurrency recently reversed up sharply from the support zone lying at the intersection of the strong support level 144.20 (which has been reversing the price form the end of September) intersecting with the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous downward impulse wave 5.
Given the strength of the aforementioned support zone and the improving risk sentiment seen across the cryptocurrency markets, Litecoin cryptocurrency can be expected to rise further toward the next resistance level 165.30 (which has been repeatedly reversing this cryptocurrency from the start of this month).
