TL; DR breakdown
- Litecoin price analysis is bullish today.
- The next resistance is at $ 181.4.
- The next support for LTC is at $ 177.8.
Litecoin price analysis shows a continuation of the bullish lead. The price rises for the second day in a row as bulls dominate the market. The LTC / USD price observed a rocking price movement last week with an overall slight decline in the period mentioned. The price has normally closed below the psychological mark of $ 180 since September 19; However, from October 6th, the coin attempted to break above $ 180 but was unsuccessful as the price closed below the target mark each time. Today the bulls are making another attempt to break the $ 180 mark as the bulls hit $ 179 again.
LTC / USD 1-day price chart: LTC bulls try $ 180 again
The 1-day price chart for Litecoin price analysis shows the price is back near $ 180 as the bulls continue their efforts. The price improved from $ 177.7 to $ 179.8 today. The LTC / USD has appreciated more than 5.8 percent in value in the past 24 hours as the price has moved up continuously over the past 20 hours, but the coin is still down 0.24 percent over the past seven days . Although the loss is small, it still shows the price development over the past week. The trading volume has fallen by 7.8 percent in the last 24 hours, with a market dominance of 0.52 percent.
LTC / USD 1-day price chart. Source: Tradingvew
Volatility is picking up again for the crypto pair as the upper Bollinger Band diverges, but on a modest spike at the $ 192 mark, which is the highest resistance for LTC along with more room for an up price function.
The Relative Strength Index (RSI) is also pointing up at index 56 in the upper half of the neutral zone. The indicator has stayed above the center line of the neutral zone since October 1st. Although neutral, the indicator shows an increase in buying activity over the last few hours.
The moving average (MA) is below the price level at the $ 177 mark as the price moved above the MA today, which is an indication of the bullish crossover. The short-term MA10, MA20 and MA30 as well as EMA10, EMA20 and EMA30 all support the uptrend.
The Litecoin Price Analysis: Latest Developments And Other Technical Notes
The 4-hour Litecoin price analysis shows that LTC encounters resistance at the target of $ 180 as the selling pressure is natural after the 20 hours of an uptrend. Also, the $ 180-181 is the September 19th resistance level where a sharp drop in coin value was observed, along with the October 10th resistance when the $ 180 LTC was rejected. The pressure to sell is evident at this point.
LTC / USD 4-hour price chart. Source: Tradingvew
Volatility is slowly increasing on the 4-hour chart as the price has risen rapidly in the past few hours, with the upper Bollinger band at $ 184 and the love band at $ 167, an average at the $ 176 mark results. The RSI has also taken a downturn during this period and is now at index 55. The RSI shows an increase in selling activity as the price has fallen a little in the last hour.
Overall, the technical indicators for Litecoin price analysis suggest a bullish trend as bullish momentum has dominated the price function for the past few hours, with 16 technical indicators favoring buying decisions of LTC / USD assets and only one technical indicator advising asset sales , while nine technical indicators are neutral.
Litecoin price analysis: conclusion
Looking at the price charts and the technical notes for the Litecoin price analysis, one can safely assume that the price will rise in the near future, as most of the technical notes suggest. However, for intraday traders, we expect the price to continue falling in the coming hours as the 4-hour chart shows, but if support remains at $ 177.8, traders can expect the price to above $ 178 fluctuates.
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