Litecoin LTC Bounces Back with a 5 Surge after Brief Retest Whats the Next Move

Coin World reports:
Source: Niu Gu Lu Yao


Starting this week, the bulls have stopped the decline by selling and have regained their bullish momentum after retesting the broken resistance level as support midweek.
Litecoin broke through the key resistance level of the three-month high in last week’s rally, but was rejected at $77 and closed relatively calmly at the end of the week.
Sales volume increased this week, causing the price to fall below $70. However, the bulls quickly stopped the decline on Wednesday, and the price rebounded above the key price level yesterday.
At the same time, this decline is a retest of the recent breakthrough at $68. As we can see on the daily chart, the bulls have returned on track, slowly rising, and using the aforementioned level as support. We can expect more upward movement in the coming days.
Breaking the previous high may bring greater growth to the market in the next few weeks. The level of $94 is an important resistance level to watch in the latest round of upward movement. Breaking this level may directly push the price up to the key psychological level of $100.
On the other hand, there are currently no signs of selling. However, if LTC loses momentum again, breaking the current week’s support level may cause the price to fall back to the monthly low.
Key levels to watch for LTC


In the recent uptrend, LTC bulls are attempting to push the price back to $77. If they reclaim this price, we may see the price fall to the resistance level of $84. Another higher level to watch is $89.6.
Although losing momentum could lead to another round of selling, $68 is the immediate support level. If the price falls below that, the next support level will be $64, followed by $60.
Key resistance levels:
$77, $84, $89.6
Key support levels:
$68, $64, $60
Spot price: $71.8
Trend: Bullish
Volatility: High