Litecoin is facing a major resistance near the .00 zone against the US Dollar. LTC price is now trading below .50 and the 55 simple moving average (4-hours). There is a key declining channel forming with resistance near .20 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could start a steady upward move if it clears the .50 and .00 levels. Litecoin price is struggling below against the US Dollar, similar to bitcoin. LTC price could start a strong increase if it gains pace above the level. Litecoin Price Analysis In the past few days, there were range moves in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC attempted an upside break above the and resistance levels. However, the price
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- Litecoin is facing a major resistance near the $55.00 zone against the US Dollar.
- LTC price is now trading below $53.50 and the 55 simple moving average (4-hours).
- There is a key declining channel forming with resistance near $53.20 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair could start a steady upward move if it clears the $53.50 and $55.00 levels.
Litecoin price is struggling below $5 against the US Dollar, similar to bitcoin. LTC price could start a strong increase if it gains pace above the $55 level.
Litecoin Price Analysis
In the past few days, there were range moves in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC attempted an upside break above the $54 and $55 resistance levels.
However, the price failed to clear the $55 resistance zone. A swing high was formed near $54.48 and the price started a fresh decline. There was a steady decline below the $53.50 and $52.50 levels. It traded as low as $51.11 and is currently consolidating losses.
It is now trading below $53.50 and the 55 simple moving average (4-hours). On the upside, the price is facing resistance near the $52.80 level. It is near the 50% Fib retracement level of the recent decline from the $54.48 swing high to $51.11 low.
The next major resistance sits near the $53.20 level. There is also a key declining channel forming with resistance near $53.20 on the 4-hours chart of the LTC/USD pair. The channel resistance is near the 61.8% Fib retracement level of the recent decline from the $54.48 swing high to $51.11 low.
The main barrier is still near the $55 zone. A clear move above the $55 level could pump the price towards the $58 level or even $60. The next major resistance could be $63.50.
On the downside, an immediate support is near the $51.20 level. The next key support is near the $50.00 level. If there is a downside break below the $50.00 support, the price could accelerate lower towards the $45 level in the near term.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly trading below $53.50 and the 55 simple moving average (4-hours). Overall, the price could start a steady upward move if it clears the $53.50 and $55.00 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 below the 50 level.
Key Support Levels – $51.20 and $50.00
Key Resistance Levels – $53.20 and $55.00.