TL; DR breakdown
- Litecoin price analysis is bullish today.
- The next resistance is at $ 178.60.
- The next support is at $ 171.
The Litecoin price analysis gives bullish indications. A price spike has been observed as the price swing was above $ 175.4 and the LTC / USD pair is currently trading at $ 177.32. The LTC / USD pair appears to be stable at this price level as the price swings have been comparatively less since the last three days.
The broader cryptocurrency market is showing positive sentiment today as the trendsetter Bitcoin is back on an upward trajectory, hovering above $ 54,000. Ethererum and many top altcoins also report gains, but the margins are not very large as few cryptocurrencies report losses.
Due to the lower price movement, the LTC / USD pair has gained a minimum of 0.15 in the past 24 hours, but LTC / USD has gained more than seven percent in the past seven days. However, the trading volume has dropped 11 percent.
LTC / USD 1-Day Price Chart: LTC faces resistance at USD 178.60
The 1-day price chart for the Litecoin price analysis shows a stable price movement. Overall, the trend has been up for the past week, but bullish momentum has slowed for the past three days and a bearish strike was noted yesterday as the price fell as low as $ 175.4, but today the bulls are back Gained the upper hand and are defining the price function. The LTC faces resistance at $ 178.9, actually the point at which it was rejected yesterday, followed by another resistance at $ 181.4.
LTC / USD 1-day price chart. Source: Tradingvew
The volatility is medium for the LTC / USD pair as the Bollinger Bands show no significant changes. The upper band is at $ 185.6, which can be seen as upper resistance, and the lower band is at the $ 137 level, which is also the strongest level of support in the current scenario. The price is trading near the upper band and well above the middle average line of the indicator.
The relative strength index (RSI) is 56 in the upper half of the neutral zone. The RSI improved after September 27th when it was near the undersold line and gradually rose to a good level. The indicator is still on the uptrend, which suggests buying activity in the market.
The Litecoin Price Analysis: Latest Developments And Other Technical Notes
The 4-hour price chart for Litecoin price analysis shows that bulls have mainly taken on the price function as they covered a good upward area at the start of the session, but bears are re-appearing on the charts as there is selling pressure in the market on the current one Price level. The appearance of a red candle on the 4-hour chart indicates bearish activity.
LTC / USD 4-hour price chart. Source: Tradingvew
In terms of the current situation, volatility has decreased as the Bollinger Band values have shifted to $ 186 for the upper band and $ 169 for the lower band, giving an average average above the price level of $ 178 as the price level is below the average of the indicator, it is confirmation of a strong retrograde hindrance. The Relative Strength Index (RSI) has also fallen to the 52 index and is moving down, suggesting more selling.
The MA10, MA20 and MA30 moving averages indicate buy signals that favor the bullish side, while the exponential moving averages EMA10, EMA20 and EMA30 also favor the bullish side of the market.
The oscillators are mostly neutral with the exception of the MACD, which favors the bullish side and momentum favors the bearish side. The vast majority of technical indications are in favor of buying assets due to the ongoing upward trend.
Litecoin price analysis: conclusion
Litecoin price analysis suggests that if support persists, the LTC will break the current barrier and the price could break above $ 177. However, if the support falters, the LTC price may drop back into the $ 174 area. The odds are good for both as the bullish momentum has also slowed.
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