After finding support at $225, Litecoin (CRYPTO:LTC) is soaring, up about 30% in the past week.
Support is a large concentration of buyers gathered at the same price level. In this case, it was $225. At support levels, there is more demand than supply. That’s why sell-offs end when they reach them, and that’s what happened here.
Sometimes stocks or cryptos rally after they fall to support levels. This occurs when some of the buyers sense the presence of the…