Litecoin price analysis: Uptrend remains preserved as price safely rejoins $191

Litecoin price analysis Uptrend remains preserved as price safely rejoins

TL;DR Breakdown

  • 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.

Litecoin price analysis: Uptrend remains preserved as price safely rejoins $191 1
LTC/USD 1-day price chart. Source: TradingView

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.

Litecoin price analysis: Uptrend remains preserved as price safely rejoins $191 2
LTC/USD 4-hours price chart. Source: TradingView

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.

Litecoin price analysis: Uptrend remains preserved as price safely rejoins $191 3
LTC/USD technical indicators chart. Source: TradingView

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.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

Related News

Hot Stories

TRON DAO Reserve Appoints Wintermute as the Latest Member and Whitelisted Institution
Cleanspark acquires BTC mining facility with 86 MW capacity
Ohm Staking Risks and Rewards
Bitcoin, Ethereum, Tron, and Chainlink Daily Price Analyses – 9 August Roundup
Bitcoin price analysis: Consolidation yet to yield results as $24k resistance strong

Follow Us

Industry News

Cleanspark acquires BTC mining facility with 86 MW capacity
BitMEX executive pleads guilty in court
Singapore’s crypto lender Hodlnaut shuts down
Celsius withdraws motion to rehire CFO at $92,000 a month
Crypto.com earns license of operation in South Korea