![Litecoin [LTC] buyers can deploy this plan to sail through the current rally](https://i.headtopics.com/images/2022/11/18/cryptoamb/litecoin-ltc-buyers-can-deploy-this-plan-to-sail-t-litecoin-ltc-buyers-can-deploy-this-plan-to-sail-t-1593658799159930881.webp)
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Litecoin’s recent bullish engulfing candlestick aided the buyers in reclaiming the near-term edge The crypto marked a downtrend in its development activity while it MVRV turned positive Litecoin’s [LTC] recent rebound from its trendline resistance […]
The findings of the following analysis are the sole opinions of the writer and should not be considered investment adviceThe crypto marked a downtrend in its development activity while it MVRV turned positive
The bullish engulfing candlestick on 10 November steered the near-term trend in favor of bulls while aiming to retest the $63.7 resistance. In the meantime, the EMA ribbons kept looking north to depict a growing buying edge. Any hike beyond the $63-level would aid the buyers in testing the first major resistance in the $69-$70 range.