Litecoin Responds to BTC’s Price Rally; Reaches Above $40

  • LTC coin has recently faced rejection at $43; formed support at $41
  • The bullish trendline has been formed, and it may remain intact if the market remains in favor
  • Technical indicators are giving mixed signals at present; the coin has just formed a bullish candle

Litecoin Price Analysis

Litecoin is trading with a bullish bias since today morning as it has firmly climbed above $40. The coin is pacing up with the current market sentiment, which has turned significantly bullish today. Bitcoin has climbed above $6000, while XRP and ETH are also testing resistance levels with a positive bias.

LTC opened yesterday at $34.95, and it remained in the same zone in the initial hours. The coin escalated above $40 till 18:00 UTC, and before closing, it had one closer above $40.

Litecoin Price Chart
LTC/USD Price Chart by TradingView

Today, the coin formed a dip near $38, which is where a bullish trendline took place. The LTC price went as high as $43 and then pulled back below $41 for a while. At 12:37:03 UTC, LTC coin is trading at $41.53.

Technical indicators for the Litecoin are giving mixed signals regarding its upcoming price momentum. While the coin is above the 200-day EMA line, simple moving averages are in the bullish zone too. Notably, the MACD chart is set to enter the bearish zone with its Signal line on the upside. Litecoin might correct downwards to retest $40 price mark. Hence to read more about Litecoin Predictions, you must visit our forecast page to find more details about coin’s upcoming years’ price updates!

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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