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Litecoin Price Analysis: strong support at $206

Litecoin
  • Market volatility increased exponentially.
  • Strongest resistance at $281.
  • Strongest support $206.

According to the Litecoin Price Analysis, the market is highly volatile; due to this, the price of Litecoin assets varies very often. After dropping exponentially on 22 November 2021, the price has kept falling but gradually until it finally escalated, only to experience a flash-crash on 23 November 2021. As of now, it has been slowly increasing at 2.40%.

Litecoin Price analysis chart 4-hour: steady increase in market volatility

Litecoin Price Analysis chart shows that the market’s volatility is steadily increasing, which means sooner or later, the prices will be open to change. The moving average curve is above the LTC/USD price, so the market trend is bullish. Looking closely at the graph, we notice that the direction changed from bearish to bullish recently, which means the buyers have started to dominate the market compared to the sellers; since volatility is also increasing, this could mean an escalation in the costs of the investments.

Litecoin Price Analysis: strong support at $206 1
LTC/USD 4-hour price analysis chart source: Trading view

The Litecoin Price Analysis also shows that the upper limit of the Bollinger’s band rests at $231 being the resistance and the lower limit of the Bollinger’s band rests at $206 being the support. The Relative Strenght Index (RSI) is at 38; it is slightly on the undersold side, but the trends could change randomly since the market’s volatility is increasing.

LTC/USD 1-day price analysis chart: markey volatility constant

Through the Litecoin Price Analysis chart, we can observe that the volatility increased exponentially but is now at a standstill; this means that the market prices’ tendency to change was pretty huge, now that it’s stopped growing, it’s still pretty huge but not increasing, it’s at a standstill. The moving average curve is crossing over the LTC/USD price, so the trend observed in this chart is bullish. Since the market’s volatility is so significant, the change in prices will be just as huge. Either the costs will exponentially escalate, or they will exponentially decrease.

Litecoin Price Analysis: strong support at $206 2
LTC/USD 1-day price analysis chart source: Trading view

According to the Litecoin Price analysis chart, the upper limit of the Bollinger’s band, also known as resistance, rests at $281, and the lower limit of the Bollinger’s band, also known as the support, rests at $179. The gap between is significant. The Relative Strength Index (RSI) is 45.78, which means that the investments are well within the middle, neither oversold nor undervalued.

Litecoin Price Analysis: conclusion

The Litecoin Price Analysis has revealed that the LTC/USD market is very turbulent; the prices almost reached $210 before a decline, but the market is very prone to change, so we can’t accurately predict which way the price is will go. Right now, it’s steadily increasing and following a bullish trend, but we can’t expect how long the market will stay like this.

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. 

Andrew

Andrew

Andrew is a journalist and cryptocurrency enthusiast who writes for the love of blockchain and cryptocurrency. He possesses vast knowledge of cryptocurrency, blockchain and other fintech and tech-related areas he has been covering for a long time.

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