Price Analysis

Litecoin Remains Strong with Moderate Price Change; Trades Around $61

  • Litecoin along with the king of altcoins remains in the ‘buy phase’
  • LTC/USD trades with grounded support from the short-term daily moving averages
  • Litecoin has the major resistance area around $64, above which the coin is anticipated to trade bullishly

Litecoin against US Dollar trades in the price range of $59–$64, as per the data feed from Coinbase. LTC seems to have a lesser impact on volatility in comparison to Bitcoin overall. LTC/USD trades slightly above the nearest support that is built at a $60 price level.

Litecoin Price Prediction

Litecoin Price
LTC Chart By TradingView

As per the above half-hourly movement of Litecoin over the past 2 days, we see that initial break down below the lower Bollinger band, which took the LTC price to $60.33 from trading as high as $64.2. It formed the first bottom when the pair traded after a 6% dip. Immediately, it consolidated to trade at $62.58 the next major resistance before $64, although lacked the break above the upper Bollinger Band. It was just yesterday when the price trend again broke the lower Bollinger Band to form the second bottom at $59.60, after which it had a double top around $61. The narrowing of the bands in the said duration has not been seen until the time of writing. The trend at present is quite subtle and shows no sign of a harsh breakout any sooner.

The MACD of Litecoin is slightly above zero with a bullish crossover as the MACD line takes over the signal line.

And, the RSI of the LTC coin is at 52, showing no extremities of being inclined to 30 currently.

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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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