Litecoin Price Trades at the Major Resistance Area at $80

Litecoin takes over Bitcoin Cash and is now one of the top five cryptocurrencies of the market, currently trading around at the major resistance price, i.e., $80. Litecoin is one of the oldest cryptocurrencies, lured a lot of attention over time, and earned credibility just like Bitcoin, Ethereum, and XRP.

With the current strengthening in the price LTC, the price trend is seen hitting the upper price range. Alongside, the currency has been gaining momentum since the last month of the previous quarter and has strengthened by as much as 129% from the three months lowest of $41 to the YTD high of $94.

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Litecoin, having taken over Bitcoin Cash, shows a strong inclination towards positive response from the networkers leading to hitting a fresh YTD high at $94 in the previous month. Being one of the most reliable cryptos, LTC’s market cap has amplified to a greater level.

Litecoin Price Analysis

Litecoin News
LTC/USD Chart By TradingView

Today, Litecoin price was seen trading at $80 after having pulled back with a bearish candlewick from the YTD high of $94. Alongside, the entire market is seen, ranging in the higher price area as the largest cryptocurrency by market capitalization is also seen trading above $19k with intermittent dips.

Litecoin has enough capability as it has retrieved to trading at $80 after having slipped to weekly supports below $65 at $63. The current trading price has led to a stringent inclination towards the upper BB, and the coin is retaining support from MA50 & MA200 due to the exact positive sentiment on the cumulative chart.

However, the MACD chart shows a slight bearish crossover as the price shows intraday dips and spikes, while the RSI is lying at 53.06 after having slightly slid from the overbought region.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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