Litecoin Technical Analysis Report 5 May, 2021

• Litecoin broke resistance area
• Likely to rise to resistance level 375.00

Litecoin cryptocurrency recently broke the resistance area located between round resistance level 300.00, the resistance level 314.00 (which stopped the pervious sharp upward impulse wave 1 in the middle of April) and the wide daily up channel from February – which accelerated the active impulse waves 3 and (3) – as can be seen from the daily Litecoin chart below.

Given the strong dialy uptrend and the improvement in risk sentiment across the cryptocurrency markets seen today – Litecoin cryptocurrency can be expected to rise further toward the next resistance level 375.00 (target price for the completion of the active minor impulse wave 3).

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