Categories: Price Analysis

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.

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.

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.

Recent Posts

Bandot & Tidal Finance Unite to Offer Insurance for Users

Tidal Finance, a secured security interface that favors the creation of decentralized insurance pools, has…

10 hours ago

ShareRing and KardiaChain Partner To Boost Blockchain Mass Adoption

KardiaChain has partnered with ShareRing to promote the smooth integration of its products and encourage…

12 hours ago

PerformLine Announces COMPLY Summit, the Compliance, Risk, and Regtech Conference

The virtual COMPLY Summit, hosted by PerformLine, will bring together industry leaders from around the…

13 hours ago

Travel App Maps.Me Fetches $50M in a Funding Event

Leading offline map service provide mobile application for travelers, Maps.Me has announced that the cluster…

1 day ago

Tokyo Tech & Mitsubishi Electric Boost P2P Energy Trading

Hailing as one of the leading producers of electronics products, Mitsubishi Electric has announced its…

1 day ago

TomoChain to Integrate PAID’s Smart Agreements

PAID network, the eDAPP leveraging from blockchain technology, and TomoChain, a blockchain company, took to…

6 days ago