Litecoin started a steady 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 remains supported for more gains unless there is a clear move below .20. 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 move
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- Litecoin started a steady increase above $90 against the US Dollar.
- LTC price is now trading above $90 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $91 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 $87.20.
Litecoin price is correcting gains from $98 against the US Dollar, similar to Bitcoin. LTC price could continue to move up if it remains well supported above the $87 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 $90 level and started a fresh increase.
There was a clear move above the $92 and $95 resistance levels. The price even climbed above the $96 level and the 55 simple moving average (4 hours). However, the bears were active near the $98 zone. A high was formed near $97.05 and the price started a downside correction.
There was a move below the $95 level. The bulls remained active above the $90 level. A low is formed near $91.07 and the price is now consolidating. It is trading below $90 and the 55 simple moving average (4 hours).
There is also a key bullish trend line forming with support near $91 on the 4-hours chart of the LTC/USD pair. On the upside, the price is facing resistance near the $94 level. It is close to the 50% Fib retracement level of the downward move from the $97.05 swing high to the $91.07 low.
The next major resistance sits near the $95 level or the 61.8% Fib retracement level of the downward move from the $97.05 swing high to the $91.07 low. A clear move above the $95 level could pump the price toward the $100 level. Any more gains might call for a test of $112.
Downside Break?
Immediate support is near the $91 level and the trend line. The next major support is near the $87 zone. A downside break below the $87 support might start a strong decline.
Litecoin (LTC) Price
Looking at the chart, Litecoin price is clearly trading above $90 and the 55 simple moving average (4 hours). Overall, the price remains supported for more gains unless there is a clear move below $87.20.
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 – $91 and $87
Key Resistance Levels – $95 and $100.