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Litecoin (LTC) Price Analysis: Bulls Face Hurdles Near $55

Summary:
Litecoin is facing a major resistance near the zone against the US Dollar. LTC price is now trading near .50 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near .25 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could start a decent upward move if it clears the .25 and levels. Litecoin price is struggling below against the US Dollar, similar to bitcoin. LTC price could resume its decline if there is no clear move above . Litecoin Price Analysis In the past few days, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. LTC seems to be forming a base above the level. The last swing low was formed near .01 and it is

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  • Litecoin is facing a major resistance near the $55 zone against the US Dollar.
  • LTC price is now trading near $53.50 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $54.25 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could start a decent upward move if it clears the $54.25 and $55 levels.

Litecoin price is struggling below $55 against the US Dollar, similar to bitcoin. LTC price could resume its decline if there is no clear move above $55.

Litecoin Price Analysis

In the past few days, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. LTC seems to be forming a base above the $50 level.

The last swing low was formed near $50.01 and it is now correcting losses. There was a move above the $51.20 and $52.00 resistance levels. The price even spiked above the 50% Fib retracement level of the key drop from the $58.40 swing high to $50.00 low.

However, the bears seem to be active below the $54.25 and $55 levels. The price is now trading near $53.50 and the 55 simple moving average (4-hours).

On the upside, the price is facing resistance near the $54.25 level. There is also a key bearish trend line forming with resistance near $54.25 on the 4-hours chart of the LTC/USD pair. The next major resistance sits near the $55 level.

The 61.8% Fib retracement level of the key drop from the $58.40 swing high to $50.00 low is also near the $55 zone. A clear move above the $55 level could pump the price towards the $58 level or even $60.

On the downside, an immediate support is near the $52 level. The next key support is near the $50 level. If there is a downside break below the $50 support, the price could accelerate lower towards the $45 level in the near term.

Litecoin (LTC) Price Analysis: Bulls Face Hurdles Near $55

Litecoin Price

Looking at the chart, litecoin price is clearly trading near $53.50 and the 55 simple moving average (4-hours). Overall, the price could start a decent upward move if it clears the $54.25 and $55 levels.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now losing pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now above the 50 level.

Key Support Levels – $52 and $50

Key Resistance Levels – $54.25 and $55.

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