Litecoin price started a fresh increase above the 5 resistance zone against the US Dollar. LTC price is now trading above 0 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near 4 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair must stay above the 5 support to continue higher in the near term. Litecoin price is gaining pace above 0 against the US Dollar, similar to bitcoin. LTC price could continue higher if it manages to clear the 5 resistance. Litecoin Price Analysis This week, there was a slow increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC spiked below the 2 and 0 support levels. The price tested the 5 support
Topics:
Aayush Jindal considers the following as important: Altcoin News, Litecoin, LTC, News, Trading
This could be interesting, too:
Chimamanda U. Martha writes Avail Teams Up with Leading Blockchain Platforms for Data Integration
Steve Muchoki writes Aligned Layer Successfully Raised M in Series A Funding Round Led by Hack VC
Mayowa Adebajo writes BNB Chain to Move Native Liquid Staking Feature to BSC
Temitope Olatunji writes Renzo (REZ) Addresses Community Backlash with Airdrop Adjustment and Token Stabilization Efforts
- Litecoin price started a fresh increase above the $175 resistance zone against the US Dollar.
- LTC price is now trading above $180 and the 55 simple moving average (4-hours).
- There was a break above a key bearish trend line with resistance near $174 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair must stay above the $175 support to continue higher in the near term.
Litecoin price is gaining pace above $180 against the US Dollar, similar to bitcoin. LTC price could continue higher if it manages to clear the $185 resistance.
Litecoin Price Analysis
This week, there was a slow increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC spiked below the $172 and $170 support levels.
The price tested the $165 support zone, where it found bids. A low was formed near $166 before the price started a decent increase. It broke the $175 resistance zone to move into a positive zone. There was also a break above a key bearish trend line with resistance near $174 on the 4-hours chart of the LTC/USD pair.
The pair cleared the 50% Fib retracement level of the key decline from the $192 swing high to $165 swing low. It is now trading above $180 and the 55 simple moving average (4-hours).
An immediate resistance is near the $185 level. It is close to the 76.4% Fib retracement level of the key decline from the $192 swing high to $165 swing low. On the upside, the price must clear $185 for more gains. The next key resistance could be $195. Any more gains could set the pace for a move towards the main $200 resistance in the near term
An immediate support is near the $180 level. The next key support is near the $175 level and the 55 simple moving average (4-hours), below which there is a risk of a move towards the $165 level.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly trading above $180 and the 55 simple moving average (4-hours). Overall, the price must stay above the $175 support to continue higher in the near term.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now gaining pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now above the 50 level.
Key Support Levels – $180 and $175
Key Resistance Levels – $185 and $200.