- Litecoin price analysis is bullish today.
- Support for LTC is present at $202.
- Resistance is found at $220.
Litecoin is rallying high today as the Litecoin price analysis shows a steep increase in the price value. LTC/USD pair broke above $200 yesterday and continues upside today as well, as bulls are taking the bar higher. Just a few minutes ago, Litecoin rose above the price cap of 20th October, which was $207.5, marking a monthly high, basically two months high to be exact. The next resistance for LTC/USD pair is present at $220.
LTC/USD 1-day price chart: Price recover as bulls regain control
The 1-day price chart for Litecoin price analysis shows LTC price is rising for a fourth day consecutively as bulls covered an upwards range today as well. The LTC/USD has gained a value of 5.7 percent over the last 24 hours, as the cryptocurrency is trading at $208 at the time of writing. The coin also shows a gain in value by 8.6 percent over the course of the last seven days. The trading volume shows an increase of 5.7 as well, which has resulted in an increase in market cap by 4.79 percent over the last 24 hours.
The volatility for LTC is mild as the Bollinger bands show very slight divergence with the upper limit of the volatility indicator at $207.4, representing support for the cryptocurrency. The moving average is trading at $194, quite below the price level complementing the bullish trend.
The relative strength index (RSI) is found at index 61 in the upper half of the neutral zone. The RSI is also on an upwards slope indicating the buying activity in the market, and also shows quite room for more bullish practice.
Litecoin price analysis: Recent developments and further technical indications
The 4-hour Litecoin price analysis shows the coin corrected during the last eight hours of yesterday’s session and started slow recovery at the beginning of today’s session as the price oscillation was slow during that time, but then bulls gained momentum and swiftly took the price to $208 in a steep spike.
The volatility on the 4-hour chart is high as the volatility indicator shows high divergence with its upper limit still below the price level at $206.22, representing support for Litecoin. Litecoin is on the verge of entering the overbought limit as the RSI is trading at index 69 and seem to be crossing the border of the neutral zone.
Overall technical indicators for Litecoin price analysis are on the bullish side as the coin is bullish from 28th October onwards and has gained a good amount of price value. Out of a total of 26 technical indicators available for analysis, 16 indicators are in favor of the bullish side and suggest buying LTC assets, and none of the indicators are currently suggesting a selling option. However, 10 technical indicators are neutral and don’t favor any side of the market.
Litecoin price analysis conclusion
The Litecoin price analysis is completely on the bullish side, as the coin is covering an upwards range and has moved past the $200 psychological mark. Though Litecoin is nearing the overbuying stage on the 4-hour chart, we are confident in saying the LTC will continue upside for at least today.
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