Litecoin Price Analysis: LTC Consolidates Above $ 160, More Perks To Follow?

TL; DR Breakdown

Litecoin price analysis is bullish today. Support for LTC / USD is present at $ 158. Resistance for LTC is at $ 165.5 below.

Litecoin’s price analysis is on the bullish side for today as the coin appears to be consolidating above the $ 160 range. However, the price function is in an upward direction as an increase in price has been observed. LTC / USD has been recovering since December 18 after finding support at the $ 143 level, as the price trend has been upward since then, with only two small corrections seen in the middle.

1-day LTC / USD price chart: LTC covers range up

The 1-day Litecoin price analysis shows an increase in the price of the coin, as the LTC is trading at $ 162.5 at the time of writing. The coin was trading in a range of $ 160.4 to $ 163.9 today while reporting a 1.06 percent increase in value in the past 24 hours, and also reporting a 9.64 percent increase in value over the past week. Market capitalization has also increased by 0.71 percent, but trading volume is down 35.26 percent over the past 24 hours, resulting in a 0.48 percent market dominance.

LTC / USD 1-day price chart. Source: Commercial view

Volatility is comparatively low as the Bollinger bands abruptly converged until December 23 and have now formed a narrow channel showing low volatility for LTC. The upper band is at the $ 167 mark which represents the resistance for LTC / USD, and the lower band is at the $ 142 mark. The average of the Bollinger bands is $ 155, which represents a support for the LTC price. The moving average (MA) is at the $ 155.20 mark, just above the average line of the Bollinger bands. The Relative Strength Index (RSI) is trading in the lower half of the neutral zone at index 47. Although the RSI is on an upward curve, the angle is not steep, suggesting resistance from the bearish side.

Litecoin Price Analysis: Recent Developments and Additional Technical Indications

The 4-hour LItecoin price analysis shows that the currency’s price function followed the correction during the first four hours of the trading session, which started yesterday. But later, bullish efforts have also been observed as the general price level has increased during the day. But for the past four hours, the bears have pushed the price down again.

LTC / USD 4-hour price chart. Source: Commercial view

Volatility is comparatively high for LTC on the 4-hour chart as the Bollinger bands are far apart, but the good sign is that the indicator is moving up with both extremes. The upper band is now at the $ 167 mark and the lower band is at the $ 154 mark. The average of the Bollinger bands is $ 160, which represents the support for the cryptocurrency. The Relative Strength Index (RSI) is on a downward curve again as the selling pressure has reappeared for the past four hours, but the RSI is still at index 58, which is a fairly acceptable score.

Litecoin Price Analysis: Conclusion

Litecoin price analysis is bullish today as the price has risen overall to $ 162. Currently, however, the price is under correction again, but we expect LTC to retest $ 163.9 later today before continuing. upward.

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Litecoin Price Analysis: LTC Consolidates Above $ 160, More Perks To Follow?

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