- Litecoin price analysis is slightly bullish.
- LTC hiked to $170 support.
- LTC/USD will break through $190 resistance
The LTC/USD pair is presently in an upswing, as another drop was fiercely rejected overnight, suggesting that bulls are looking for more upside this week. As a result, we anticipate LTC/USD to rise even higher over the next 24 hours. Meanwhile, LTC/USD will break through $190 resistance.
There was a sharp spike as the price jumped from $165 to nearly $190, as the bulls returned in control. Litecoin price is now trading at $186 and looks set to rise further over the next few days. The hourly chart shows that the LTC/USD pair even broke higher than $200 resistance.
However, the gains were quickly capped at around $190. We can see a bearish trend line on the hourly chart, which prevented further gain.
There is another bullish trend line on the same chart at $165, acting as a support to LTC/USD, which is currently being tested.
The LTC/USD pair might consolidate around $195 for now before resuming its uptrend once again. The price will most likely break through $190 and $200 resistance levels as well. On the downside, we can see support at $180. As long as it doesn’t fall below that level, the price might rally towards $190.
LTC/USD 4-hour chart: The previous drop was fiercely rejected,, and bulls are back
We can see a strong bullish momentum return on the 4-hour chart in the previous hours, implying that Litecoin’s price is about to break higher.LTC/USD 4-hour chart. Source: TradingView
As buyers continue to hold the upper hand, LTC/USD may soon retest its highs and perhaps break above them. Meanwhile, RSI is rising without reaching overbought levels. Stochastic is demonstrating a lot of bullish pressure once again as it moves north. If the pair rises further, momentum will grow and could lead to an extended LTC upswing. Because of this, there is a chance that LTC/USD could reach $190 soon.
From yesterday’s high at $192, the cryptocurrency dropped to its current levels near $175. Litecoin price is up by 2.7% in early morning trading, according to coinmarketcap.com.
However, the LTC/USD pair did not fall further and started to consolidate above $170-175 levels instead. Litecoin price also got a boost from the broad-based
Litecoin Price Analysis: Conclusion
Over the last few weeks, Litecoin has gone into consolidation mode after recording massive gains over the previous month. The LTC/USD pair then fell sharply after failing to hold above the $200 mark.
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