Rajarshi Mitra
Independent Analyst
- LTC/USD bulls have taken charge in the early hours of Saturday.
- Daily confluence detector has one healthy support level at $44.20.
LTC/USD daily confluence detector
LTC/USD has gone up by $44.18 to $47.19 in the early hours of Saturday as the bulls took charge. The daily confluence detector shows a lack of strong resistance levels in Litecoin's path back to the $50-zone. On the downside, we have one healthy support level at $44.20, which has the one-day SMA 5, one-day Previous Low, one-week Fibonacci 38.2% retracement level, one-day SMA 100 and 4-hour Previous Low.
If the bulls retain control of the market, they should be able to push LTC/USD above the $50 psychological level.
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