Litecoin News

Litecoin price analysis: LTC/USD is trading in mixed reactions as it eyes $190

TL;DR Breakdown

  • 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.

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.

This post was last modified on October 13, 2021 4:19 pm

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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