The trend in Bitcoin, LTC, OKB, BIT and FTM has turned bullish and pullbacks are likely to be purchased with aggression.
) broke above the overhead resistance at $85 on Jan. 12, indicating the start of a new uptrend. There is no major hurdle until the price reaches $107.On the downside, the bulls will try to fiercely defend the zone between $85 and the 20-day EMA . If the price springs back from this zone, the LTC/USDT pair could continue its uptrend and reach $107.
If bears want to gain the upper hand, they will have to pull the price below the breakout level of $75. That could make way for a collapse to $61.The 4-hour chart shows the pair is in an uptrend and the bulls are fiercely protecting the 20-EMA. If buyers drive the price above $92, the pair could pick up momentum and rally toward the psychological level of $100.
If the price rebounds off this level, the pair could touch the strong overhead barrier at $34.18. Crossing this level may be a difficult task but if the bulls manage to achieve it, the pair could skyrocket to $42. Contrarily, if the price plunges below the 20-EMA, the correction could deepen to the 50-SMA. If the price rebounds off this level, the bulls will again try to resume the up-move but may face resistance at $31 and again near $33.BitDAO rallied sharply from $0.26 on Dec. 27 to $0.53 on Jan. 14, indicating a strong bullish momentum. In addition, the shallow pullback on Jan. 15 suggests that traders are not exiting their positions in a hurry as they anticipate the up-move to continue.
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