Litecoin started a strong increase above against the US Dollar. LTC price is now trading above and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could correct lower but dips might be limited below the level. Litecoin price is rising steadily 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 sessions, there was a decent recovery 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
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- Litecoin started a strong increase above $60 against the US Dollar.
- LTC price is now trading above $60 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $68 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair could correct lower but dips might be limited below the $60 level.
Litecoin price is rising steadily above $65 against the US Dollar, similar to bitcoin. LTC price could continue to move up if it remains well bid above the $65 level.
Litecoin Price Analysis
In the past few sessions, there was a decent recovery in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the $60 level and started a fresh increase.
There was a clear move above the $65 and $70 resistance levels. The price even climbed above the $75 level and the 55 simple moving average (4-hours). However, the bears were active near the $85 zone. A high was formed near $83.43 and the price is now correcting gains.
There was a move below the $80 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $59.11 swing low to $83.43 high.
On the downside, an immediate support is near the $74 level. The next key support is near the $68 level. There is also a key bullish trend line forming with support near $68 on the 4-hours chart of the LTC/USD pair. It is near the 50% Fib retracement level of the upward move from the $59.11 swing low to $83.43 high.
If there is a downside break below the $68 support, the price could accelerate lower towards the $65 level in the near term.
On the upside, the price is facing resistance near the $80 and $82 levels. A clear move above the $82 level could pump the price towards the $90 level. The next major resistance sits near the $100 level.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly trading above $65 and the 55 simple moving average (4-hours). Overall, the price could correct lower but dips might be limited below the $60 level.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now losing 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 – $74 and $68
Key Resistance Levels – $82 and $90.