Price Analysis

Litecoin (LTC) Resumes Yesterday’s Rebound; Yet to Hit the $45 Price Mark

  • Litecoin has formed a bullish trendline over a day; the coin gears up to trade above $45
  • LTC seems to have support levels at $43 along with its 23.60% Fib level
  • Technical indicators are giving negative signals except for SMA lines
  • Despite the recent rebound, the coin is yet to carry out a full price recovery

Litecoin initiated a price rebound yesterday; however, the price is still down as compared to yesterday’s opening price. Moreover, the overall crypto market is battling with barriers as Bitcoin is also struggling to start an uptrend.

Litecoin Price Prediction

Yesterday, Litecoin saw an opening price of $44.44, and after a bit of consolidation, the LTC coin price went up to $44.54. Notably, the coin is range-bound below $45 for the last couple of days. Facing a steep resistance above $44.54, the coin tumbled while breaching a support level at 78.60% Fib level.

Seeing support at $43.66, Litecoin price started a rebound due to which it reached above the 50% Fib level ($44.20). Today, one more high spike ushered the LTC coin above $44.30, crossing the 61.80% Fib level. Recently, it has formed a low swing near $44.10 before reaching $44.16 at 10:26:04 UTC.

Litecoin Price
LTC Chart By TradingView

The short-term SMA line has just moved above the long-term SMA line noting a positive price move. RSI of LTC is marked at 48, showing a stable phase. Additionally, MACD is set to enter the bearish zone with its MACD line on the downside.

Litecoin may see resistance at $45.61 and $46.11 if it manages to cross $45.12, while its support levels stand at $44.13, $43.63, and $43.14.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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