Price Analysis

Litecoin (LTC) Triggers the Volatile Spell; Likely to Kick-Start Rebound

  • LTC price has recently started an upward journey and is facing rejection above $46
  • Technical indicators are heading towards a bullish phase while the coin is approaching support level near $45
  • Litecoin has recently cleared the price barriers near $44, currently pulling back

As Bitcoin has already managed to trade above $6800, the crypto market is gearing up for a massive and much-needed price recovery. Matching its pace with BTC price, LTC coin has also started a rebound and broken above the bearish impact.

Litecoin Price Analysis:

After yesterday’s downtrend, Litecoin opened today at $43.58 on a mild bullish note. The coin hit the $45.15 price mark and then returned to the price range of $43. After a high swing at $44.10, the coin slowly dropped and hit bottom at $42.31. Seeing a support level there, the price escalated and cleared resistance levels at $43 and $44. With an increase of 9%, LTC price reached as high as $46.12 and then pulled back to $44.96. Recently, the coin has formed a bullish candle at $45.41 at 11:28:47 UTC.

Litecoin (LTC) Price Forecast
LTC Price Chart By TradingView

Bollinger Bands clearly hint about the noticeable volatility in the Litecoin price trend, which is likely to invite bulls to the coin. SMA lines are about to have a bullish crossover, as the long term SMA line is set to slip below the short-term SMA line. MACD chart notes a positive phase as the MACD line is above the signal line.

LTC coin is likely to face resistance at $47.43, $50.13, and $51.48 if it continues the current uptrend. Also, its support levels stand at $43.38, $42.03 and $39.33.

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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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