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Price Analysis

Litecoin Initiates an Uptrend, Clears Few Major Resistance levels

  • Litecoin keeps today’s bullish trend intact, even traces a close above $68
  • LTC has cleared price barriers near $67 recently; yesterday’s plunge had caused the coin to trade around $65 till today morning
  • The YTD chart for Litecoin shows major price decline after a massive surge above $141

Litecoin price has been recovering its loss of valuation since yesterday, in fact, today, the coin has improved its game while clearing major resistance.

LTC price has traced a bullish trendline since today morning as it has uplifted from $65.35 to above $67. The coin has traced a higher high pattern since the daybreak after it traded above $66.53. LTC had its higher high spikes near $67.53 and $68.08. As the coin could not clear resistance above $68.08, it has corrected down to $67.83 at 12:11:26 UTC.

Litecoin Intraday Chart

Litecoin Price Chart
Litecoin Price Chart

In the initial part of the YTD chart, LTC price has seen a remarkable price rise from $32 to $141.38 with a strong bullish trendline. The bullish era for the coin lasted till June, and later it saw a major downward price shift. The coin saw a hefty price decline of 43.27% and is still extending the fall with a bearish trendline.

LTC/USD Price Chart

Litecoin Price Chart

SMA lines in the intraday chart are giving positive signs as the short term SMA lines are well above the long term SMA lines. RSI is near 60. Above the transition phase showing no extremities. However, the MACD line is below the signal line noting a bearish trend but is about to have a crossover.

Litecoin value may face resistance at $68.88 and $70.14, while may find support levels at $64.14, $62.88 and $61.14.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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