Litecoin was forced to contend with bull and bear traps amidst persistent BTC wavering near $28k.
locked gains at the level. With this in mind, what are some levels to consider for LTC in the next few hours/days?LTC has been oscillating between $75 and $100 since mid-March. This allowed traders to target range extremes. However, lately this has become impossible, with BTC unable to move beyond $28k.
Although the 4-hour chart’s market structure was bearish, the higher-timeframe charts were neutral. That means the price could go in either direction at the current $89 level. If BTC holds on to $27k and surges, Litecoin could rebound from $89 and bounce slightly to $93 or $95 price levels. A strong move to $100 could be likely if BTC moves into $28k decisively.
On the contrary, LTC sellers could extend for gains at $84 or the range low near $75 if BTC drops to $26k again. Meanwhile, the RSI fell below the median 50-mark, denoting heightened selling pressure. However, the OBV edged higher, suggesting increased demand for LTC.
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