Litecoin [LTC] buyers can deploy this strategy to remain profitable

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

A potential close above the immediate ceiling could heighten the chances of an extended upside in the coming times. At press time, LTC was trading at $61.175.The altcoin’s efforts to alter the bearish trend finally came to fruition after reviving over a third of its value in the last three weeks. With an ascending channel in place, the bulls established their foothold beyond the constraints of the 20/50 EMA.

The bulls need to find a close above its immediate resistance range to heighten the chances of a sustained recovery. Any break below the pattern would hint at reversal tendencies and could affirm shorting signals.The Relative Strength Index struggled to maintain a position beyond the 60-mark while picturing a slight edge for the bulls. A sustained sway above the equilibrium zone would play out in favor of the bulls.

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