Litecoin price started a steady increase from the 5 support zone against the US Dollar. LTC price is now trading well above 0 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near 5 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair is likely to clear the 0 resistance and started a strong increase in the near term. Litecoin price is gaining momentum above 5 against the US Dollar, similar to bitcoin. LTC price must settle above 0 to start a fresh pump. Litecoin Price Analysis Recently, there was a steady recovering in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC traded close to the 0 support level. A low was formed near 3 before
Topics:
Aayush Jindal considers the following as important: Altcoin News, Litecoin, LTC, News, Trading
This could be interesting, too:
Emily John writes GRVT Launches Alertatron Trading Event and Airdrop Before TGE
Bilal Hassan writes Coinbase Expands in Nigeria with Onboard Global Partnership
Guest User writes XRP Price Faces Potential Drop: Leading KOL Warns of Imminent Correction with TD Sequential Sell Signal!
Bilal Hassan writes Bitget Expands in South Africa with Callpay Integration
- Litecoin price started a steady increase from the $155 support zone against the US Dollar.
- LTC price is now trading well above $180 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $175 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair is likely to clear the $200 resistance and started a strong increase in the near term.
Litecoin price is gaining momentum above $185 against the US Dollar, similar to bitcoin. LTC price must settle above $200 to start a fresh pump.
Litecoin Price Analysis
Recently, there was a steady recovering in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC traded close to the $250 support level. A low was formed near $253 before the pair formed a base above the $255 level.
As a result, the price started a steady increase above the $170 and $175 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $205 high to $153 swing low.
There was also a break above a major bearish trend line with resistance near $175 on the 4-hours chart of the LTC/USD pair. The pair is now trading well above $180 and the 55 simple moving average (4-hours). It is now trading near the $195 resistance zone.
The 76.4% Fib retracement level of the downward move from the $205 high to $153 swing low is also acting as a resistance. If there is a clear break above the $195 and $200 levels, the price could accelerate higher towards the $220 level. The next key resistance is near the $235 level.
Conversely, there is a risk of another decline from the $195 and $200 resistance levels. An initial support is near the $185 level. The first major support is near $180 level and the 55 simple moving average (4-hours).
If there is a downside break below the $180 support level, the price could continue to move down towards the $175 and $170 levels.
Litecoin (LTC) Price
Looking at the chart, litecoin price is now trading well below $180 and the 55 simple moving average (4-hours). Overall, the price is likely to clear the $200 resistance and started a strong increase in the near term.
Technical indicators
4 hours MACD – The MACD for LTC/USD is currently gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now well above the 50 level.
Key Support Levels – $180 and $170.
Key Resistance Levels – $200 and $220.