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Litecoin (LTC) Price Analysis: Fresh Increase Possible If It Clears $60

Summary:
Litecoin is trading in a positive zone above against the US Dollar. LTC price is now trading below and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the resistance zone. Litecoin price is rising above against the US Dollar, similar to bitcoin. LTC price could continue to move up if it remains well bid above the level. Litecoin Price Analysis In the past few days, there was a decent increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the level and started a fresh increase. There was a clear move above the and

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  • Litecoin is trading in a positive zone above $55 against the US Dollar.
  • LTC price is now trading below $60 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $60 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could gain bullish momentum if it clears the $60 resistance zone.

Litecoin price is rising above $55 against the US Dollar, similar to bitcoin. LTC price could continue to move up if it remains well bid above the $55 level.

Litecoin Price Analysis

In the past few days, there was a decent increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the $52 level and started a fresh increase.

There was a clear move above the $55 and $58 resistance levels. The price even climbed above the $60 level and the 55 simple moving average (4-hours). However, the bears were active near the $65 level. A high was formed near $64.58 before there was a downside correction.

The price declined below the $60 level and the 55 simple moving average (4-hours). It even spiked below 50% Fib retracement level of the upward move from the $51.96 swing low to $64.58 high. However, the bulls were active near the $56.50 level.

The 61.8% Fib retracement level of the upward move from the $51.96 swing low to $64.58 high is acting as a support. On the upside, the price is facing resistance near the $59.80 and $60.00 levels.

There is also a key bearish trend line forming with resistance near $60 on the 4-hours chart of the LTC/USD pair. A clear move above the $60 level could pump the price towards the $65 level. The next major resistance sits near the $70 level.

On the downside, an immediate support is near the $56.50 level. The next key support is near the $55 level. If there is a downside break below the $55 support, the price could accelerate lower towards the $52 level in the near term.

Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading below $60 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $60 resistance zone.

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 – $58 and $55

Key Resistance Levels – $60 and $65.

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