FX.co ★ Litecoin accumulates more bullish energy

LTC/USD slipped lower after its strong growth. Still, the retreat could be only temporary. The rate could test and retest the near-term downside obstacles before resuming its growth. Technically, after its strong growth, a retreat is natural.

In the last 24 hours, LTC/USD is down by 1.38% but it's still up by 12.15% in the last 7 days. Bitcoin's further growth could force the altcoin to approach and reach new highs.

LTC/USD Retesting The Buyers!

Technically, LTC/USD came back to test and retest the uptrend line and the 74.33 downside obstacles. The current sideways movement could represent a bullish pattern. Also, the descending dotted line represents dynamic support.

Monday's high of 77.97 represents an upside obstacle. In the short term, it could move sideways between the 74.33 and 77.97 levels. Escaping from this pattern could confirm a clear direction.

LTC/USD Outlook!

Staying above 74.33 and making a valid breakout through 76.25 could announce a potential growth at least until the 77.97 static resistance. Only a valid breakout through this obstacle activates a larger growth and brings good long opportunities.