- The bulls have taken price above $191.
- Litecoin price analysis confirms bullish supremacy.
- Support is sufficient at $142.78 level.
The Litecoin price analysis reveals an upswing in price has been recorded in this week as the bulls have been getting more and more stronger. The bullish momentum has increased on a great scale which is why the price has been uplifted to the $191.23 level. This counts as an huge accomplishment for the buyers as previously the chances of progression were quite limited. Nonetheless, today’s trend has also been towards the bullish side and LTC/USD value has increased immensely.
LTC/USD 1-day price chart: Bullish momentum restored as upsweep takes price above $191
The 1-day price chart for Litecoin price analysis shows the cryptocurrency price has been advancing unboundedly since the past two weeks which is a moment of encouragement for the buyers. The price has been elevated up to $191.23 in the last 24-hours, as the bulls have been maintaining their upper position proficiently. The price has been able to go above the moving average (MA) value as well which is going at the $180.29 level for the one-day price chart.
The SMA 20 curve is once again moving ascendingly after the substantial increase market value of Litecoin. The Bollinger bands Indicator values are as follows; the upper curve is touching $198.30 value whereas the lower curve is at $142.78 value. The Relative Strength Index (RSI) score has improved eminently during the day and have reached the 62.63 position.
Litecoin price analysis: Bulls counter bearish attack to rescue price above $191
The four hours Litecoin price analysis is showing signs of bullish activity as the price has undergone major improvement in the last four hours. The price has resettled on the $191.23 level as a result of the bullish push. The bulls have been able to retrieve back their position after the price experienced fall in the earlier hours. The moving average indicator in the four hours price chart is dictating its value at $186.94, precisely.
The volatility has increased on a noticeable level and now the Bollinger bands average is standing at $181.84. The upper Bollinger band is standing at the $193.99 position whereas its lower band is standing at $169.68 position for now. The RSI score has improved up to 64.88 in the last four hours as well.
The price has improved on a massive scale during the period of the past few weeks, which is why the technical indicators chart is indicating a bullish trend. There are 15 indicators that are currently present on the buying position, ten indicators are on the neutral position while only one indicator is on the selling position.
The Moving Averages Indicator is pointing out towards the commendable rise in price with a strong bullish signal. We can see 14 indicators standing on the buying position, while only one indicator is on the neutral position and zero on the selling position. The Oscillators are going neutral on the contrary, with nine oscillators on the neutral mark and one oscillator each on the selling and buying marks.
Litecoin price analysis conclusion
The Litecoin price analysis concludes that the price has been heading towards its next aim quite swiftly with minimal bearish resistance. Today, an upward movement has been recorded as the LTC/USD price has climbed up to the $191.23 level. The price may improve in the upcoming hours as well as the hourly prediction is providing support for the buyers as well. We might soon observe the LTC hitting the psychological mark of $200.
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