Friday , September 17 2021
Home / Altcoins / Litecoin (LTC) Price Analysis: More Upsides Likely Above $140

Litecoin (LTC) Price Analysis: More Upsides Likely Above $140

Summary:
Litecoin price started a fresh increase above the 5 resistance zone against the US Dollar. LTC price is now trading nicely above 2 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near 2 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair is likely to accelerate higher if there is a clear break above 2 and 5. Litecoin price is attempting a recovery above 2 against the US Dollar, similar to bitcoin. LTC price must clear 2 to continue higher in the near term. Litecoin Price Analysis This week, there was a steady increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the 0 and 8 levels. The price started a

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Nick Marinoff writes No Taxes for Foreign BTC Investors in El Salvador!

Nick Marinoff writes Lenny Moon Is Pushing Fly Coin, a Digital Currency Designed to Reward Frequent Fliers

Nick Marinoff writes Allied and Finastra Are Creating a New Digital Wallet System for Banks

Aayush Jindal writes EOS Price Analysis: Signs of Fresh Rally above .20

  • Litecoin price started a fresh increase above the $125 resistance zone against the US Dollar.
  • LTC price is now trading nicely above $132 and the 55 simple moving average (4-hours).
  • There is a key contracting triangle forming with resistance near $142 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair is likely to accelerate higher if there is a clear break above $142 and $145.

Litecoin price is attempting a recovery above $132 against the US Dollar, similar to bitcoin. LTC price must clear $142 to continue higher in the near term.

Litecoin Price Analysis

This week, there was a steady increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the $120 and $118 levels.

The price started a steady increase above the $132 resistance level and the 55 simple moving average (4-hours). It even cleared the $135 resistance level. Finally, there was a spike above the $140 level and the price traded as high as $142.

It is now consolidating gains below $142. It spiked below the 23.6% Fib retracement level of the upward move from the $$127 swing low to $142 high. However, the bulls were active near the $135 level.

The price also remained stable above the 50% Fib retracement level of the upward move from the $$127 swing low to $142 high. Moreover, there is a key contracting triangle forming with resistance near $142 on the 4-hours chart of the LTC/USD pair.

A clear upside break above the triangle resistance could set the pace for a larger increase. The next key resistance is near $145, followed by $150. Any more gains could lead the price towards $175.

On the downside, the price is likely to remain stable near $135. The next key support is near the $132 level, below which there is a risk of a move towards the $125 level.

Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading well above $130 and the 55 simple moving average (4-hours). Overall, the price is likely to accelerate higher if there is a clear break above $142 and $145 in the near term.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly 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 – $135 and $132.

Key Resistance Levels – $142 and $150.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *