Litecoin is gaining pace above the .00 resistance against the US Dollar. LTC price is now trading above .00 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support at .00 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the .80 and .40 resistance levels. Litecoin price is recovering from the .20 zone against the US Dollar, like Bitcoin. LTC price could climb again if there is a clear move above .40. Litecoin Price Analysis In the past few sessions, there was a decent increase in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC struggled to clear the .45 resistance zone and started a fresh decline.
Topics:
Aayush Jindal considers the following as important: Altcoin News, LTC, News, Trading
This could be interesting, too:
Chimamanda U. Martha writes OSL Strengthens Partnership with Solomon JFZ Ahead of Hong Kong ETF Launch
Temitope Olatunji writes Japanese Metaplanet’s Purchase of Bitcoin Worth .25M Signals Growing Corporate Adoption
Godfrey Benjamin writes Here Are 3 Major Recent Cardano (ADA) Upgrades to Know
Steve Muchoki writes BNY Mellon Invests in Spot Bitcoin ETFs from BlackRock and Grayscale
- Litecoin is gaining pace above the $65.00 resistance against the US Dollar.
- LTC price is now trading above $66.00 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support at $69.00 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
- The pair could gain bullish momentum if it clears the $70.80 and $71.40 resistance levels.
Litecoin price is recovering from the $68.20 zone against the US Dollar, like Bitcoin. LTC price could climb again if there is a clear move above $71.40.
Litecoin Price Analysis
In the past few sessions, there was a decent increase in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC struggled to clear the $73.45 resistance zone and started a fresh decline.
There was a move below the $72.00 and $70.00 support levels. Finally, the bulls protected the key support at $68.00. A low was formed near $68.12, and the price is now attempting a fresh increase. The price started a recovery wave above the $68.00 level.
It broke the 23.6% Fib retracement level of the downward move from the $73.45 swing high to the $68.12 low. Litecoin is now trading above $69.00 and the 55 simple moving average (4 hours).
On the upside, the price is facing resistance near the $70.80 level or the 50% Fib retracement level of the downward move from the $73.45 swing high to the $68.12 low. The next major resistance is near the $71.40 level. A clear move above the $71.40 level could push the price toward the $73.50 zone.
The next major resistance sits near the $75.00 level. Any more gains might send the price toward the $80.00 level. On the downside, initial support is near the $69.00 level. There is also a key bullish trend line forming with support at $69.00 on the 4-hour chart of the LTC/USD pair.
The next major support is near the $68.00 level. If there is a downside break below the $68.00 support, the price could accelerate lower toward the $65.00 level in the near term.
Looking at the chart, Litecoin’s price is trading above $69.00 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $70.80 and $71.40 resistance levels.
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 – $69.00 and $68.00.
Key Resistance Levels – $70.80 and $71.40.