TL; DR Breakdown
Litecoin price analysis is bullish today. Strong support for LTC / USD is present at $ 149. Resistance for LTC is at $ 155.
Litecoin price analysis reveals that the coin is stable in shape and factor bullish as the price has reached $ 153. Currently, LTC is testing resistance at $ 153 as the price moved higher towards the $ range. 156, but it returned to $ 153 due to selling pressure, and LTC will have to pull back before any further advance towards the $ 155 resistance.
LTC / USD 1-day price chart: Bulls have held the price level near $ 150
The 1-day price chart for Litecoin price analysis shows that the bulls have successfully held the price levels close to the $ 150 range as the price has not fallen any lower, and the price has also risen steadily since Yesterday. The bulls have also stopped the strong downtrend, which prevailed for the past few weeks, as increased selling activity was previously observed in the market. But now the price is holding its level, which is obvious on the 1-day price chart.
LTC / USD 1-day price chart. Source: Commercial view
The price has traveled above the moving average (MA) level, which is present at the $ 151 mark. As the price has been in a continuous decline for the last month, the Bollinger bands are also trending downward. , with both arms traveling downward. The upper band is present at $ 204 and the lower band is present at $ 123, which represents support for LTC. The Relative Strength Index (RSI) score has improved to index 40 after the recent uptrend and support from buyers. The RSI indicated a lot of pressure on the price of the currency previously, as it was trading near the undersold zone.
Litecoin Price Analysis: Recent Developments and Additional Technical Indications
The 4-hour chart for Lite’s price analysis also confirms today’s uptrend, as the bulls jumped higher at the beginning of the trading session. The coin also slightly corrected in the second half of the last trading session, but it started to recover at the end and then gained momentum at the beginning of the trading session today. However, some selling pressure was also observed in the last four hours as the price is correcting again. The MA value is present below the price level at $ 149 on the 4-hour chart.
LTC / USD 4-hour price chart. Source: Commercial view
Volatility is low as Bollinger bands keep their extreme end in a tight range. The upper band is present at the $ 156 mark and the lower band is present at the $ 143 mark which represents the support level for the LTC / USD pair. The RSI curve, after traveling higher, has fallen to index 57 due to the selling activity observed during the last four hours.
Litecoin Price Analysis: Conclusion
Litecoin’s price analysis is generally bullish for today as the price is trading in the green and has rocketed above the $ 150 psychological mark, but selling pressure has been observed in the past four hours, which expected at this point as this is a resistance level for the currency as well. We expect LTC to break above $ 153 after correcting a few more hours today.
Disclaimer. The information provided is not commercial advice. Cryptopolitan.com assumes no responsibility for investments made based on the information provided on this page. We highly recommend independent research and / or consultation with a qualified professional before making any investment decision.
We want to say thanks to the writer of this post for this outstanding material
Litecoin Price Analysis: LTC Stable at $ 153