An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

• First key support level of EUR/USD: 1.04817
• Second Key support level of EUR/USD: 1.04431
• Third Key support level of EUR/USD: 1.03307
• First key resistance level of EUR/USD: 1.05268
• Second Key resistance level of EUR/USD: 1.05880
• Third Key resistance level of EUR/USD: 1.06638

• First key support level of USD/CHF: 0.88611
• Second Key support level of USD/CHF: 0.88472
• Third Key support level of USD/CHF: 0.88237
• First key resistance level of USD/CHF: 0.88862
• Second Key resistance level of USD/CHF: 0.89169
• Third Key resistance level of USD/CHF: 0.89500

• First key support level of GBP/USD: 1.26700
• Second Key support level of GBP/USD: 1.26162
• Third Key support level of GBP/USD: 1.25056
• First key resistance level of GBP/USD: 1.27400
• Second Key resistance level of GBP/USD: 1.28437
• Third Key resistance level of GBP/USD: 1.29590

• First key support level of USD/JPY: 149.520
• Second Key support level of USD/JPY: 149.096
• Third Key support level of USD/JPY: 148.163
• First key resistance level of USD/JPY: 150.698
• Second Key resistance level of USD/JPY: 151.961
• Third Key resistance level of USD/JPY: 153.855

A Review of the Status of the “Silver” of Cryptocurrencies: Litecoin

Litecoin, often referred to as the “silver” of the cryptocurrency market, has consistently been one of the significant and leading assets in the crypto space. Currently, it ranks 20th in the “cryptocurrency market rankings.”

Similar to other altcoins, Litecoin’s price movement is largely influenced by and reactive to Bitcoin’s performance. While Bitcoin has managed to break through its historical highs, Litecoin still remains far from reclaiming its peaks from 2017 and 2021.

Analysing the price movement in longer timeframes such as monthly and weekly charts, there is no clear indication of a decline. On the contrary, Litecoin’s price is in an upward trend, having broken through the “key level” of $113, advancing toward higher resistance zones.

At present, the price has reached a significant resistance band between $139 and $144. This has led to some selling pressure from investors who purchased Litecoin in 2019 and those who recently bought at lower prices, causing a pullback and price correction.

To sustain its upward trajectory, Litecoin needs to break through this resistance band and stabilize above it. If this happens, the next target for buyers will be the $180 resistance level, with a more ambitious goal of $230 in a stronger bullish scenario.

The CloseOption Team
www.closeoption.com