Litecoin price analysis: Bullish move strengthens in LTC/USD at $149 resistance

Litecoin price at bullish momentum at resistance

TL;DR Breakdown

  • Litecoin price is experiencing sharp resistance above $145.68 mark.
  • Remarkable improvement in today’s market price expected.
  • LTC found its support at $134.92 in accordance with the latest chart review.

The latest Litecoin price analysis is showing that the cryptocurrency is going into a upward trend, showing bullish signs with a resistance at $145.68. Despite of certain bearish candle sticks appearing on today’s chart, the current trend is following the bullish momentum.

It can be predicted that the Litecoin might cross the $146.01 mark and cause a paramount improvement in its market value. With a recent increase in the bullish trend, the price might jump over the $145.75 threshold.

LTC/USD 4-hour chart: Buyers in favor of LTC

The recent cryptocurrency chart showing the market trends in litecoin exchange is going in bullish direction. The latest candle stick is green, rendering that the current trend is adding to the value of Litecoin price.

Not only that, but the volatility as shown by the Bollinger’s bands is slowly increasing, hinting that the market will experience more bullish trend in the upcoming week. The Bollinger’s bands are telling us that the cryptocurrency value is at an average of $141.02, its resistance point.

If we move forward and talk about the Moving Average indicator, then its value is set at $142.86 at the current moment. The two extremes of the Bollinger Bands are necessary indicators if we intend to analyze the LTC/USD chart. The upper end of the Bollinger Band is set at $147.11 while the lower end is currently at $134.92 point.

Litecoin price analysis: Bullish move strengthens in LTC/USD at $149 resistance 1
LTC/USD 4-hours price chart. Source: Trading view

Moving on, if we consider the Relative Strength Index (RSI) score of the 4-hour Litecoin price chart, then is right now settled at the 59.37 number. These statistics reveal that the RSI score is going in support of cryptocurrency, as it is near the overly bought number of 70.

Litecoin 1-day price chart shows bullish trend

Litecoin 1-day price chart has been showing a constant bullish trend from the past three days, maintaining it successfully. Even today, the charts are showing green candle sticks, which is a progressive sign for cryptocurrency. In the 1-day price graph, the Bollinger’s bands are revealing to us the resistance level which is $145.75. The bullish momentum is slowly increasing, and it can be said that it might move past the resistance level it is currently settled at.

In the same chart, the upper edge of the Bollinger’s band is at $155.60 level while the lower edge is at $109.02 mark. If we discuss the volatility exhibited from the Bollinger’s band, it is increasing and might prove profitable for the Litecoin value in the upcoming time period.

Litecoin price analysis: Bullish move strengthens in LTC/USD at $149 resistance 2
LTC/USD 1-day price chart. Source: Trading view

The Relative Strength Index (RSI) score is at 60.39 which is a positive factor for bullish momentum as per Litecoin price analysis. The Litecoin price might hit an overbought score and establish another high point above $145.75. Also, the Moving Average indicator as seen in the chart above, is at a resistance level of $142.62 to be precise.

Litecoin price analysis: Bullish move strengthens in LTC/USD at $149 resistance 3
LTC/USD Technical Indicators chart. Source: Trading View

There are total 26 indicators as visible from the chart which inform us about the latest updates of the market. There are five total indicators at the selling position while 11 are right now at the buying position. This is implying that more buyers are turning towards the market and putting in efforts to take up the price value to a new high. Out of the Oscillators, one is set at the selling position, one at buying and 9 at the neutral position.

If we talk about the Moving Average indicators, then 4 are standing at the selling position, one at neutral while the remaining ten at the buying position. This might be hinting at the possibility that the market is going towards the bullish momentum, and bulls are succeeding in taking over the market.

Litecoin price analysis conclusion: LTC looks to close beyond $145

To conclude the entire analysis, it is evident that the 1-day chart and 4-hour chart both are going in the favor of cryptocurrency value. There is a greater chance that the Litecoin price might as well move forward the limit of $145.75 and continue maintaining its bullish trend. The RSI score as seen in the 1-day chart is also increasing and there is a possibility that it will breach past the overbought level that is 70.

If the Litecoin price maintains its support level which is $132.32 then there is a fair chance that it could finally cross the resistance level found at $145.75. But, if it happens that the cryptocurrency value goes below this resistance level, then the market is expected to face loss.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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