Litecoin (LTC) shows signs of force in the face of a trembling global economy. The cryptocurrency held firm at the level of $ 87.50 through multiple tests, defending a price floor that traders now consider criticism, according to the Technical Analysis Data model of Coindesk Research.
This occurs while the markets react to current trade tensions and the uncertainty of the monetary policy of the main central banks.
Strengths of technical analysis
- At 7:00 am, Litecoin increased at a 24 -hour level of $ 89.76 – a leap to 3% of its low session – before facing strong resistance near the $ 89 mark. The volume increased during this decision, culminating at 273,699 in a signal that investors looked closely at this level.
- The price then dropped below the support at $ 87.60, falling to $ 87.53 over a net hourly drop of 1%, but quickly rebounded. This recovery, which experienced potential double -bottomed training, was accompanied by a burst of volume, referring to the interest of the purchase.
- Even in the midst of price volatility, Litecoin has preserved its ascending canal – a sign that the upward trend remains intact.
- For merchants, this means that the market is still betting on higher prices, despite the opposite winds of fears of inflation and the change in economic policy.
