• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Litecoin News

Litecoin price touches $90, can LTC defend the level?

Bilal Ahmed by Bilal Ahmed
Dec 16, 2020 07:35 pm
in Litecoin News
3 min read
Litecoin price above $90, will LTC reach $100?
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

TL;DR Breakdown

  • Litecoin price recently touched the $90.00 price level as bulls dominated the market.
  • Currently, the price action is facing resistance as LTC trades near a psychological price level.
  • If buyers defend $88.00 price can be expected to move towards the $100 mark

Litecoin (LTC) price has made a V-shaped recovery from the price level of $70.00 and climbed back to the $90.00 level where it currently hovers. However, the price faces resistance in crossing above the $90.00 level and has failed to cross above the level despite touching it twice on November 23 and December 3.

The broader cryptocurrency market is also enjoying a strong bullish rally with the price of Bitcoin climbing towards the $21,000 mark. Most major altcoins such as Ethereum, XRP, and Bitcoin Cash are also green across the 24-hour charts.

RelatedPosts

Litecoin price prediction: LTC rejected at $300, what’s next for the crypto?

Litecoin price prediction: Litecoin not ready to move higher, a retest of $260 support later today?

Litecoin price prediction: LTC grinds towards $300 amid slowing momentum

Litecoin price prediction: LTC to climb to $300 resistance as bulls regain momentum

Litecoin price across the 24-hour frames

Litecoin price touches $90, can LTC defend the level? 1

Across the daily frames, Litecoin price seems to be in a period of low volatility as LTC oscillates between the $90.00 and the $70.00 level.

Since bottoming out at $41.59 on September 21, the price has not touched the bottom line of the Bollinger Bands. While October saw a bullish dominance in the markets, the price action moved steadily, and the trend angle remained low due to the recurring bearish activity.

The bullish momentum continued in November, and the price action observed sharp price ascension in the latter part of the month. The price rose from $55.00 on November 1, to $94.00 on November 24. However, the price level turned out to be an overbought signal for the asset as the price broke above the Bollinger Bands.

Subsequently, Litecoin price action observed a sharp correction to the $70.00 level before stabilizing. The buyers were still not done, and the price made a V-shaped recovery to the $90.00 level. Since then, Litecoin price action has repeated this oscillating motion and is currently near the $90.00 trying to overcome the level.

Across the technical indicators, the RSI is still neutral, showing potential in the bullish trend. Meanwhile, the Bollinger bands are currently in a squeeze suggesting that a period of high volatility would follow. The MACD indicator shows a bullish crossover with increasing bullish momentum as the two EMAs converge at a sharp rate.

Litecoin price across the 1-hour frames

Litecoin price touches $90, can LTC defend the level? 2

Across the hourly charts, we can observe that Litecoin price action has ended the consolidation it had been in since November 14. The price action made a bullish breakout from the channel and rose to the $90.00 level.

However, the sharp bullish movement placed the price above the Bollinger Bands, causing LTC to become overbought. Currently, the price shows a slight retracement to $88.61 as the price faces resistance in crossing above the $90.00 level.

Across the technical indicators, the RSI is above the 70.00 mark suggesting little room for upwards movement. Meanwhile, the recent retracement has pulled the price back inside the Bollinger Bands, but the price remains close to the upper limit of the bands. Similarly, the MACD shows declining bullish momentum as the two EMAs show signs of convergence.

Traders should expect Litecoin price to consolidate at the level for the next few hours before the price makes a bullish breakout above the $100.00 level.
However, if the price falls below the $88.00 mark, LTC can be expected to return to $82.00.

Tags: cryptocurrency tradingcryptomarket
Bilal Ahmed

Bilal Ahmed

Bilal Ahmed is a blockchain enthusiast and an avid reader who loves writing about ramifications of blockchain and cryptocurrencies. He believes in doing due diligence with facts before transmitting.

Related Posts

Litecoin price
Litecoin News

Litecoin price prediction: LTC rejected at $300, what’s next for the crypto?

2021-04-16 11:45 am
Litecoin Price Prediction 2021-04-15
Litecoin News

Litecoin price prediction: Litecoin not ready to move higher, a retest of $260 support later today?

2021-04-15 12:05 pm
Litecoin price prediction LTC grinds towards $300 amid slowing momentum
Litecoin News

Litecoin price prediction: LTC grinds towards $300 amid slowing momentum

2021-04-14 18:50 pm
Litecoin price
Litecoin News

Litecoin price prediction: LTC to climb to $300 resistance as bulls regain momentum

2021-04-13 11:42 am
Litecoin price prediction LTC touches $250 as bulls push towards $300
Litecoin News

Litecoin price prediction: LTC touches $250 as bulls push towards $300

2021-04-10 21:05 pm
Litecoin price prediction LTC grinds to $300 as bulls hold onto $230 zone
Litecoin News

Litecoin price prediction: LTC grinds to $300 as bulls hold onto $230 zone

2021-04-09 12:08 pm

Follow Us

  • 51k Fans
  • 8.3k Followers

Popular News

  • Ripple price prediction XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    Ripple price prediction: XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    1301 shares
    Share 520 Tweet 325
  • DOGE Price Prediction: Dogecoin to the moon, to hit its $0.2 target after safeguarding support

    1230 shares
    Share 492 Tweet 308
  • Cardano price prediction: ADA fails to break above $1.50, what’s next?

    1156 shares
    Share 462 Tweet 289
  • XRP Price Prediction 2021, 2023, 2025, 2030

    1049 shares
    Share 420 Tweet 262
  • Dent Token Prediction for 2021 – 2025

    935 shares
    Share 373 Tweet 233

Latest News

Ethereum Price Prediction 2021-04-16

Ethereum price prediction: Ethereum retests $2,300, prepares for another move higher over the weekend 

April 16, 2021
ARK Invest bought additional $110 million worth of Coinbase shares

ARK Invest bought additional $110 million worth of Coinbase shares

April 16, 2021
Turkey central bank sets to ban payment in cryptocurrency

Turkey central bank sets to ban payment in cryptocurrency

April 16, 2021
Dogecoin

Dogecoin price surge to new all-time high price at $0.3

April 16, 2021
Litecoin price

Litecoin price prediction: LTC rejected at $300, what’s next for the crypto?

April 16, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News

Binance News
Ripple News
Cardano News

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker
Sitemap

Exclusive Partners of

Footer 3

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.