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Litecoin (LTC) Price Analysis: Bulls Could Be Active Near $80

Summary:
Litecoin started a strong increase above against the US Dollar. LTC price is now trading below and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near .50 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair remains supported for more gains unless there is a clear move below . Litecoin price is correcting gains from against the US Dollar, similar to bitcoin. LTC price could continue to move up if it remains well supported 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

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  • Litecoin started a strong increase above $80 against the US Dollar.
  • LTC price is now trading below $80 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $86.50 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair remains supported for more gains unless there is a clear move below $80.

Litecoin price is correcting gains from $92 against the US Dollar, similar to bitcoin. LTC price could continue to move up if it remains well supported above the $80 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 $80 level and started a fresh increase.

There was a clear move above the $85 and $88 resistance levels. The price even climbed above the $90 level and the 55 simple moving average (4-hours). However, the bears were active near the $92 zone. A high was formed near $91.14 and the price started a downside correction.

There was a move below the $85 level. The price traded below the 23.6% Fib retracement level of the upward move from the $72.45 swing low to $91.14 high. There was a break below a key bullish trend line with support near $86.50 on the 4-hours chart of the LTC/USD pair.

The price is now trading below $80 and the 55 simple moving average (4-hours). An immediate support is near the $81.80 level. It is near the 50% Fib retracement level of the upward move from the $72.45 swing low to $91.14 high.

The next major support is near the $80 zone. A downside break below the $80 support might start a strong decline. On the upside, the price is facing resistance near the $84 and $85 levels. A clear move above the $85 level could pump the price towards the $92 level. The next major resistance sits near the $100 level.

Litecoin (LTC) Price Analysis: Bulls Could Be Active Near $80

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading below $80 and the 55 simple moving average (4-hours). Overall, the price remains supported for more gains unless there is a clear move below $80.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now gaining 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 – $80 and $75

Key Resistance Levels – $85 and $92.

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