- Litecoin price analysis indicates further upside to be seen today.
- LTC/USD consolidated around $180 overnight.
- Higher low and support established at $176.
Litecoin price analysis is bullish for today as we can see bulls pushing higher today after a consolidation yesterday. Therefore, we expect LTC/USD to target the $200 mark next.
The cryptocurrency market trades with bullish momentum over the last 24 hours. Market leader, Bitcoin is up by 3.4 percent, while Ethereum 4.4 percent. Solana (SOL) is among the best performers, with a gain of 32.6 percent.
Litecoin price movement in the last 24 hours: Litecoin starts to rally again
LTC/USD traded in a range of $175.61 – $187.68, indicating strong volatility over the last 24 hours. Trading volume has remained unchanged and totals around $2.37 billion, while the total market capitalization trades around $12.5 billion, ranking the cryptocurrency in 14th place overall.
LTC/USD 4-hour chart: LTC targets $200 next?
On the 4-hour chart, we can see the Litecoin price moving away from the $180 mark as bulls are ready for another push higher.
Litecoin has gained more than 75 percent since establishing a swing high around $105 on the 20th of July. Several higher highs and lows along the 100 hour moving average blue line have been set, indicating strong bullish momentum. Additionally, LTC/USD has broken past the $150 previous swing high, indicating that the market sentiment has turned bullish once again.
Over the past days, the next major resistance, around $180, was reached, and consolidation was formed around it over the past hours. However, the Litecoin price did slowly move higher and tested the $185 mark several times.
After a slowdown in momentum overnight, LTC/USD has started to trade higher earlier today and currently sets new several-month highs. This price action development should lead towards further upside over the next 24 hours, with the next major price target located around the $200 mark.
Litecoin Price Analysis: Conclusion
Litecoin price analysis is bullish for today as bulls start to gain momentum after a consolidation overnight. Therefore, we expect LTC/USD to reach further highs later today and reach the $200 mark later this week.
While waiting for Litecoin to move further, read our articles on Bitcoin Futures, Physical Bitcoin, as well as Proof of Stake vs Proof of Work.