- Today’s Litecoin price analysis is bullish
- our daily Litecoin price analysis starting at an intraday low of $215 to a high of $221
- Litecoin is preparing for a rally
Today’s Litecoin price analysis is bullish following a market consolidation market around the $145 support overnight after a substantial decline earlier this week. Therefore, we hope that the LTC/USD pair will undergo a reversal over the next 24 hours as the bulls aim to face further upsides.
Litecoin price movement in the last 24 hours: Litecoin still holds above $140 support
We recorded a tight daily range on our daily Litecoin price analysis, starting at an intraday low of $140 to a high of $155. The tight range shows the market is undergoing little volatility on the 24-hour chart. Litecoin’s daily trading volume surged by 0.41 percent to a sum of $3.84 billion, while the total market capitalization stands at $14 billion. Litecoin is ranked at position #15 overall among the top 20 altcoins by market cap.
LTC/USD 4-hour chart: LTC set to reverse from the $165 support?
On the 4-hour Litecoin price analysis chart, we can observe Litecoin price action preparing to retrace higher after the coin dropped towards the intraday low. Support at $15 prevented further downsides, and the price currently trades at $216.
LTC/USD 4-hour chart. Source: TradingView
Litecoin has undergone an increase of more than 120 percent from the previous swing of $105 and the present swing high. We are expecting the coin to record further gains in the course of the week as we enter the second week of September.
The previous support for the Silver Bitcoin was found at $165 and has provided a good support base for upward momentum. Unless the bears overcome buying pressure above the $200 mark, we hope the bulls can sustain a strong uptrend to the $250 mark.
Litecoin Price Analysis: Conclusion
Our Litecoin price analysis shows increased activity around the $200 – $214 level in the background of a sustainable support base at $210. We are hoping for a retracement in the course of the day and that Litecoin will set a new daily high above $221. You can learn more about Litecoin on our Long term price forecasts for the years 2021 – 2025.
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