TL; DR Breakdown
Litecoin’s price analysis is bullish. Strong support for LTC / USD is present at $ 143. Resistance for LTC is at $ 153.
Litecoin price analysis is bullish today as the coin showed rejection below $ 143 again, meaning that LTC has likely found its support floor. As a consequence, a bullish rally has been observed today as the price has improved to the $ 145 range.
LTC / USD has been trading in a tight range from December 6 onwards after finding support at $ 143. If the bull run continues for today, we still expect LTC / USD to remain in the $ 140- $ 149 range already. that strong resistance above this level is also active.
LTC / USD 1-day price chart – bullish successfully defending $ 143 support
1-day Litecoin price analysis shows that the price hasn’t dropped much after December 6, and LTC appears to be in range for now, as the $ 143 support is still holding up well. Currently, the LTC / USD pair is trading at $ 145.23 at the time of writing. LTC / USD has lost 2.7 percent over the past 24 hours as the price recovery is minor so far. And if you watch over the past week, LTC / USD reports another loss in value of more than three percent. In contrast, the trading volume has increased by 0.79 percent, but the market capitalization has decreased by 3.25 percent, resulting in a 0.47 percent market dominance.
1-day LTC / USD price chart. Source: Commercial view
Volatility is high for the LTC / USD pair, with the upper Bollinger band at $ 210 and the lower band at $ 121, averaging $ 166. The moving average (MA) is at the $ 150 mark per above the price level.
The Relative Strength Index (RSI) is trading at the 35 index near the oversold region. But the upward slope of the RSI indicates the buying activity that started today in the market. However, RSI is still neutral.
Litecoin Price Analysis: Recent Developments and Additional Technical Indications
Polkadot’s 4-hour price analysis shows that the bulls are recovering well as a green candle has appeared on the price chart following a progression of red candles. The price function remained in decline for 20 hours straight yesterday, but now it is moving in an upward direction and still no downside hurdle has been observed.
LTC / USD 4-hour price chart. Source: Commercial view
Volatility is low on the 4-hour chart as the Bollinger band continues to trade as a narrow channel. The upper band is at $ 156 and the lower band is present at the $ 142 mark that represents support. The average of the Bollinger bands represents the resistance for LTC / USD at the $ 147 mark. The RSI is in the neutral region at the 41 index, taking a bullish turn.
Litecoin Price Analysis: Conclusion
Litecoin price analysis shows that the price movement is positive and that the price is recovering today. And it looks like the recovery will continue for the next several hours, and traders can expect a further price increase in the next few hours. As the support continues to hold, the LTC could break near $ 149.
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Litecoin Price Analysis: The support floor at $ 143 still lingers for LTC. Whats Next?