Litecoin (LTC) Price Analysis: Break Above $150 Seems Imminent | ELEVENEWS
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Litecoin (LTC) Price Analysis: Break Above $150 Seems Imminent

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  • Litecoin price started a strong rise after forming a support base near the $110.00 level against the US Dollar.
  • LTC price gained bullish momentum after it broke the key $122.00 resistance area.
  • There is a major bullish trend line forming with support at $126.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair is likely to break the $145.00 and $150.00 resistance levels to trade towards $160.00.

Litecoin price traded to a new monthly high above $140.00 against the US Dollar, and rallied vs bitcoin. LTC price is placed in an uptrend and it is likely to accelerate above $150.00 in the coming sessions.

Litecoin Price Analysis

Recently, litecoin price found a strong buying interest above $110.00 against the US Dollar. The LTC/USD pair formed a swing low near $111.59 and recently started a strong rally. It broke the $115.00 and $120.00 resistance levels to move into a positive zone. Moreover, the price settled above $120.00 and the simple moving average (4-hours). The bulls gained momentum after it broke the key $122.00 resistance area.

As a result, the price surged higher above the $130.00 and $140.00 levels. It even broke the $142.00 level and traded to a new monthly high at $144.36. Recently, it started a downside correction below the $140.00 level. The price traded below the 23.6% Fib retracement level of the upward move from the $111.59 low to $144.36 high.

However, there are many supports on the downside near $132.00 and $130.00. The next main support is near the $128.50 level. It coincides with the 50% Fib retracement level of the upward move from the $111.59 low to $144.36 high. Moreover, there is a major bullish trend line forming with support at $126.00 on the 4-hours chart of the LTC/USD pair.

Finally, the 61.8% Fib retracement level of the upward move from the $111.59 low to $144.36 high is near the $124.11 level. To move into a bearish zone, the price must settle below $120.00. On the upside, an initial resistance is near the $142.00 and $144.00 levels. If there is an upside break above $144.00, the price is likely to accelerate above the $150.00 barrier.

Litecoin Price Analysis LTC Chart

Looking at the chart, litecoin price is clearly trading in a strong uptrend above the $130.00 and $122.00 support levels. Therefore, there are high chances of more gains above the $144.00 and $150.00 levels in the coming sessions.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly losing momentum in the bullish zone, but there are still positive signs.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently correcting towards the 55 level.

Key Support Levels – $126.00 and $122.00.

Key Resistance Levels – $144.00 and $150.00.

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Litecoin

Litecoin (LTC/USD) forecast and analysis on June 26, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 135.15. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on June 26, 2019

As part of the Litecoin course forecast, a test level of 132.50 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 152.10. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at the level of 130.20.

Litecoin (LTC/USD) forecast and analysis on June 26, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below 128.50. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on June 26, 2019 implies a test level of 132.50. Further growth is expected to continue to the area above the level of 152.10. The conservative area for buying Litecoin is located area of 130.20. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 128.50. In this case, we should expect the continuation of the fall.

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Litecoin (LTC/USD) forecast and analysis on June 25, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 134.08. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.

Litecoin (LTC/USD) forecast and analysis on June 25, 2019

As part of the Litecoin course forecast, a test level of 130.50 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 148.20. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 129.50.

Litecoin (LTC/USD) forecast and analysis on June 25, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below the area of ​​128.20. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on June 25, 2019 implies a test level of 130.50. Further growth is expected to continue to the area above the level of 148.20. The conservative area for buying Litecoin is located area of 129.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 128.20. In this case, we should expect the continuation of the fall.

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Litecoin

LTC/USD bulls are struggling to break down $500

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LTC/USD bulls are struggling to break down $500

  • Litecoin price on Monday late in the second half of the session is trading in negative territory down some 1.25%.
  • LTC/USD bullish pennant pattern can be viewed via the daily chart. 
  • A wave of selling pressure was seen in the session on Sunday, after a key near-term ascending trend line break. 

Spot rate:                 

Relative change:      -0.25%

High:                        136.88

Low:                         133.42

LTC/USD 60-minute chart

  • The 60-minute chart view shows the price consolidating within a bearish pennant. The price may be exposed to some further downside before another push north. 

LTC/USD daily chart

  • Price action is moving within a bullish penannt structure, subject to a potential breakout. 

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