- The Litecoin price analysis shows a price increase.
- Strong support is present at $175.
- Resistance is found at $184.
The Litecoin price analysis reveals, LTC price movement is again taking a bullish color today. The LTC/USD pair price has reached $182 at the time of writing. After yesterday’s bullish activity of the first half, LTC was continuously on the decline for the rest of the day, though overall, an increase in total value was noted yesterday. Still, bears were ruling the LTC market unchallenged till the end of the day. Today’s start was slow as selling pressure was still there, but soon bulls took over, and the price started to rise.
Yesterday Litecoin went from $173 to $179 in the starting hours, but from there on, it was on the decline, and currently, after the bulls rally, the cryptocurrency sits at $182, near the resistance mark.
Litecoin price analysis shows LTC/USD pair overall gained a value of 2.4 percent over the past 24 hours, which might increase over the day as bulls gain strength. LTC/USD is at a loss of 17 percent in value if we look at the entire past week.
Though LTC price is still moving in the price channel, which took shape after the flash crash of 7th September, LTC bulls need to strengthen their base to take the price level above the resistance of $184.
LTC/USD 1-day price chart: LTC price rises
The 1-day Litecoin price analysis shows LTC price is improving as today again bulls are showing some progress. The volatility is mediocre, but the moving average value is coming down and is at a value of $193. if the moving average continues to travel below the price level, that will be a bullish crossover, which may benefit the price in the coming hours.
The Bollinger bands show a straight movement, with the upper band at the $221 mark and lower at the $148 mark, making an average of $184. The Bollinger bands average is hovering above the price level marking a bearish indication. The relative strength index (RSI) is slowly rising above the centerline. The indicator is at a score of 50, showing improvement as sentiment for the LTC market is turning positive.
LTC/USD 4-hours analysis: LTC to retest resistance of $184
The 4-hours price charts for Litecoin price analysis shows bulls are in the lead. The starting hours saw a slow price movement due to uncertain market conditions, but then bulls gained strength, and the price started moving up. At the time of writing, the price is at $182, exactly below the resistance mark of $184.
The volatility is comparatively low than the previous days, and we can see in the 4-hours chart that as price moved up, the moving average (MA) and Bollinger bands average are now below the price level with MA at 180.13 and Bollinger bands average at 180.44 marking a bullish signal.
The RSI is also showing an upward movement near the centerline at a score of 48, and there is enough room for bulls.
The technical indicators for Litecoin price analysis are neutral beyond perfection. As we know, the market was bearish for the past few days, and at today’s start, the market was also undetermined, but the market gained momentum in the current hours. Out of the total of 26 technical indicators, eight are neutral, and nine each are on the buying and selling side.
The moving averages are also perfectly neutral, with one indicator at the neutral sign and seven indicators on the buying, and seven on the selling side. Though the most important technical indicators of MA 10, 20 and EMA 10, 20 are showing sell signal marking a bearish attitude as we know, non of the technical indicator can be considered in isolation.
The oscillators are also neutral, with seven technical indicators as neutral and two each on buying and selling side. The important indicators among oscillators are mostly neutral as RSI is neutral at the time, but another important indicator, MACD, is on the bearish side.
Litecoin price analysis: Conclusion
The 1-day and 4-hours Litecoin price analysis shows a bullish trend as bulls have succeeded in taking the lead today. As the price moves up, the turning point will be if the LTC/USD pair can push through the resistance mark. This is only possible if LTC bulls succeed in continuing their lead and enough support from traders comes in.
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