- Litecoin price pulls back to $44 after trading around the major weekly resistance at $45, in the opening hours of the day
- LTC price appeared accumulating over the past two days within a trading range of $43 to $45 after a brief uptrend in the past week
- However, the previous week has been quite a gainer for LTC investors as the trend appeared
- The coin is retaining slight support from the 50-day and 200-day MAs due to moderate volatility
Litecoin’s intraday fails to reap gains as per the press time after derailing from the resistance price. In order to break the price accumulation, LTC coin needs to have a tenacious trade above $45.
Litecoin Price Analysis
On a half-hourly chart, the LTC price trend appears accumulating due to a lack of intraday momentum. However, we expect steady growth in the ongoing week, as the Bitcoin price hits above $7.8k after breaking the price accumulation around $7.5k. Hence, intraday appears volatile as the Litecoin price couldn’t manage to rise above $45—the major resistance.
Based on the intraday analysis, the LTC/USD is drawing a bearish crossover on the MACD chart as the signal line crosses above the MACD line due to a lack of momentum to stay above $45. Whereas, the RSI is not holding any trading extremity as there is no steep fall or rise and lies at 46.64 after rising from 42.
According to the present trading condition, the major support lies at $43.5 and $43, while the major resistance to watch out for Litecoin is $45. According to LTC forecast, the coin might continue to register range-bound trading as of now.