Can LTC move beyond $65?

The daily chart confirms that Litecoin is now moving above the levels that previously prevented it from recovering.

Also trading well clear of its immediate past averages, which are clustered around the $50-$55 level. What this means is that the market has moved from floundering beneath this area to seeing it as a base or area to work with.

The first challenge now sits near the $63.80 price area, which is the session’s current high. After that level, $65 is the main level to watch.

Litecoin daily price chart

Source: TradingView

A daily close above $65 will show that not only have the buyers kept control following the rise, but it may also open the door to a much bigger bounce. ​

If it’s not able to clear that area it would not immediately end the rally. LTC may just retreat towards $58-60 and still be sitting close to its recent progress.

A deeper fall below that range would bring attention to the $54–$55 price area, where buyers may attempt to defend the breakout.

The daily candle was still open when the chart was captured. Litecoin’s closing price will therefore provide a clearer signal than its temporary intraday high.