Connect with us

Litecoin

Litecoin Price Prediction – Wild Swings and Key Levels Were in Focus for LTC

  • Litecoin is trading 0.45% lower after wild swings
  • There are several key intraday support and resistance to watch
  • LTC/USD pair has had an excellent run recently 

Litecoin news today – A close look at the daily chart for LTC today shows that there has been a slight retracement after the LTC/USD trading pair started the trade session well. Now the $81.29 area could act as the initial intraday resistance point for a higher move to materialize and this wave will push to a high of $81.45 (and could be the most important resistance point for Litecoin). Looking at the support side, the position above the $77.00 area could become an important threshold. If this level breaks, it may be an indication the LTC/USD trading pair is heading lower. However, we can’t rule out the possibility that there is a trend-line that could potentially act as support. Which is often the case with the price of Litecoin.

Litecoin LTC Price Prediction: LTC Price Pushed Sellers Above $80

The price of Litecoin during trade this session has endured and managed to push the sellers to stay afloat above the $80 area following the initial rejection it got at 80. Litecoin price prediction shows that the coin remains in the short-term. The bull got their chance after the coin’s recent reversal was LTC/USD embraced a major support point at the $78 area, the trend-line, and the 50 Simple Moving Average.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
Litecoin$81.632.11%

The Litecoin price is currently pushing for consolidation above the $80 area. The coin’s ability to defend the $80 position will determine the speed at which the LTC bulls can relaunch their attack towards the $100 region. However, there is danger in the dark with the creation of an upward wedge pattern. If Litecoin’s resistance at the $85 area is not cleared on time, Litecoin’s potential to launch a reversal will stay high. This implies that sellers could end up trimming the accrued gains for the time being until LTC/USD finds any credible support at either the $60 area or the $70 region.

The Bulls To Hold Control on the Short Term

LTC/USD short term technical analysis indicates that the Litecoin bulls will hold control after taking over from the bears. The price of LTC is now bouncing off the ascending trend lines’ support position in conjunction with the 50-day Simple Moving Average. The short term resistance point at $80 must now come down if the price LTC will tackle higher levels around $85 before trending further upwards to the $100 area. The price of LTC is 3.77% up in the last 24 hours. It is trading at $82.06.

News Source

Click to comment

Litecoin

Litecoin News Today – Litecoin LTC Price Bounces Back, Appears to be Pushing Higher

  • Litecoin LTC gained 2% in the last 24 hours
  • The coin’s price is now back above the $70 area
  • The crypto found support at the $67.50 area

Litecoin news today – The price of Litecoin reportedly saw a minor 2% rebound as trade opened today after it had suffered a heavy decrease of 12% since this week began. The digital asset has finally managed to climb back above the $70 mark after it found support at the $67.50 position. The digital asset is the number 7 largest crypto by market cap and it currently holds a total market capitalization of $4.61 billion at press time.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
Litecoin$75.622.65%

Litecoin Price Prediction and Market Overview

Litecoin News Today – Since our previous Litecoin price prediction, the price of Litecoin has continued to find some level of support at the $67.50 area. This has prevented the digital asset market from dropping even lower. The crypto is now attempting a fresh rebound higher. LTC price managed to find some support at the lower side of the ascending channel that we have been following. This further adds to the level of support in that area. This support at $67 has held strong, thanks to LTC’s rising channel. This means that we can say that Litecoin is now within a bullish trend. The price of LTC must collapse under the $67 area before it turns neutral again. If the bulls continue pushing above the $71 area, then the first level of resistance will be expected to appear at the $76.72 region, as long as it is on the 382% Fib Retracement level. Apart from this, there is also resistance at the $80 and $83.05 level. If LTC buyers can cause a new 2020 high above the $83 area, then they will be able to see the resistances at $86, $89.28 and $95.55.

Additional Support for LTC/USD at $63.57
Additionally, if sellers push lower, then the first support level for LTC is expected to pop up at the lower boundary via the price channel. Under this area, is the $67.50 support. If sellers continue going lower, then they will find additional support lying at $63.57 and the 200-day EMA. RSI for LTC/USD has recently slipped under the 50 level, although the bulls are looking to take the market back up. For a bounce higher, traders and investors must wait for RSI to break above the 50 levels once more and show that the bulls have indeed taken back control of the market momentum. Litecoin’s key levels here include; Support areas at $67.50, $64.59, $61.33, and $60. Resistance areas at $76.72, $78.44, $80, $83, $86, $89.28, and $90 via the daily chart.

News Source

Continue Reading

Litecoin

Litecoin’s consolidation between $73.84 – $76.60 may extend till February-end

According to CoinMarketCap, Litecoin is the best performing crypto-asset in the top 10 over the last 24-hours. The coin registered a positive spike of 3.84 percent as it was valued at $76.27. Its market cap remained under $5 billion, but its trading volume continued to be above $5.7 billion over the last 24-hours.

Litecoin’s 1-hour chart

Source: LTC/USD on TradingView

Litecoin’s short-term chart seems to have recovered over the past 48-hours after the massive drop on 19 February. A re-test of support levels at $67.42 took place on 20 February at 16:00 UTC, but since then, the price has ascended on the charts.

At press time, a rising wedge pattern was taking shape on the charts which had registered consistent higher highs at $72.76, $75.32, and $76.60, which is also a major active resistance at the moment. Lower highs were seen at $67.43, $71.48 and $74.51.

Although LTC has been on an incline, another bearish pullback remained on the cards for the coin.

According to the VPVR indicator, the Point of Control for Litecoin was lined up at $73.84. Following a bearish breakout, the price should re-test down to the PoC and then continue its march above $76.60.

The target zone for trading remains above $76.60 over the next week, but due to current bearish sentiments in the market, the price may consolidate for a longer period between $73.84 and $76.60 over the next few days.

Source: TradingView

However, major indicators remained bullish for Litecoin. The MACD line remained comfortably above the signal line at press time, which suggested that the momentum was on the bullish side. Relative Strength Index or RSI also continued to scale up, indicating a higher buying pressure.

Additionally, an anomaly was observed on the Litecoin chart on 22 February at 6:00 UTC when a huge bearish wick was observed. The price closed at $63.50 that hour, something that could have been triggered due to a higher sell order at some exchange. However, the wick did not affect the price and recovery continued over the next hour.

Conclusion

Although trading volume is fairly low between $73.84 and $76.60, the chances of consolidation remain high between the resistance and PoC. A bullish rally may change proceedings over the next week, but in light of the current market sentiment, the price will likely stay between the range.

News Source

Continue Reading

Litecoin

Litecoin Price Analysis: LTC/USD bulls look to break above the SMA 20 curve

  • LTC/USD bulls took control of the market for the second straight day.
  • The 20-day Bollinger jaw has narrowed, indicating decreasing price volatility.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD bulls took control of the market for the second straight day as the price went up from $73.40 to $74.50 in the early hours of Saturday. The SMA 20 acts as immediate market resistance, which the bulls will need to conquer to continue the upward movement. After breaking past SMA 20, the bulls should aim to go past the $77 resistance level to get back into the $80-zone. Both the MACD and Elliott Oscillator shows that while the overall market sentiment is still bearish, the recent buyer action has definitely inhibited the downward momentum. The 20-day Bollinger jaw has narrowed, indicating decreasing price volatility.

News Source

Continue Reading
Open

Close