Litecoin price is rising steadily and it is now trading above .00 against the US Dollar.LTC price traded to a new 2020 high at .99 and it remains in an uptrend towards .00.There is a crucial bullish trend line forming with support near .60 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair is likely to continue higher towards the .00 and .50 resistance levels in the near term.Litecoin price is trading in a strong uptrend above .00 against the US Dollar, similar to bitcoin. LTC price is likely to surge towards .00 as long as it is above .40.Litecoin Price AnalysisIn the past few days, there were steady gains in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price formed a solid support base above the .00 level and
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- Litecoin price is rising steadily and it is now trading above $70.00 against the US Dollar.
- LTC price traded to a new 2020 high at $73.99 and it remains in an uptrend towards $80.00.
- There is a crucial bullish trend line forming with support near $70.60 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair is likely to continue higher towards the $80.00 and $82.50 resistance levels in the near term.
Litecoin price is trading in a strong uptrend above $70.00 against the US Dollar, similar to bitcoin. LTC price is likely to surge towards $80.00 as long as it is above $66.40.
Litecoin Price Analysis
In the past few days, there were steady gains in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price formed a solid support base above the $60.00 level and recently started a strong rise.
It surpassed the $65.00 and $68.00 resistance levels. Moreover, there was a break above the $70.00 barrier and a close above the 55 simple moving average (4-hours).
The bulls were able to push the price above the 76.4% Fib retracement level of the recent correction from the $73.32 high to $66.40 low. It has opened the doors for more upsides above the $73.30 level and the $73.32 high.
An immediate resistance for litecoin is near the $75.00 area. It is also close to the 1.236 Fib extension level of the recent correction from the $73.32 high to $66.40 low.
Any further gains is likely to lead the price towards the $80.00 resistance area. An intermediate resistance is near the $77.60 level, plus the 1.618 Fib extension level of the recent correction from the $73.32 high to $66.40 low.
On the downside, there are many decent supports forming near the $70.60 and $70.00 levels. More importantly, there is a crucial bullish trend line forming with support near $70.60 on the 4-hours chart of the LTC/USD pair.
Below the trend line, the next support is near the $67.00 level and the 55 simple moving average (4-hours). The main uptrend support is waiting near the $66.40 level, below which the bears are likely to take control.
Litecoin Price
Looking at the chart, litecoin price is clearly trading in a nice uptrend above the $66.50 and $70.00 level. A clear break above the $75.00 level could set the pace for a larger move towards $80.00 and $82.50.
Technical indicators
4 hours MACD – The MACD for LTC/USD is gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now well above the 60 level.
Key Support Levels – $70.00 and $66.40.
Key Resistance Levels – $75.00 and $80.00.