- Litecoin price analysis is bullish today.
- Resistance for LTC/USD is present at $110.
- Support for LTC is present at $97.6.
The price is moving upwards once again in the latest Litecoin price analysis as the bullish momentum got hold on the market later during the day. The price decreased in the past week tremendously, and today it experienced a downfall once again at the start of the trading session as the bears were ruling the market. The price dropped down to $103 of value during the day, but bulls made a significant return, and the price started increasing, and it is expected that it will increase further in the coming hours as well as the bulls are trying to evade the way for the lead after a long gap.
LTC/USD 1-day price chart: LTC price headed up once again after the recent turnover
The 1-day Litecoin price analysis is showing signs of bullish activity as the price has increased considerably during the day after taking a dip. The past week has been quite unfavorable for the bulls, but right now, the bulls are in the leading position. The price has moved up to the $106.5 level as a result of the increase in bullish momentum. The moving average (MA) value is also standing high as it is resting on the $109.3 position currently above the price level.
The volatility has increased today, which should be taken as a positive hint regarding future trends as the price is still in the lower price envelope. Moreover, the Bollinger bands Indicator is showing a change in values as well as now the upper value is $144, and the lower value is $97.6 representing the support for LTC. The Relative Strength Index (RSI) score has increased to a certain degree as well as it is trading at index 39 after the recent upgrade.
Litecoin price analysis: Recent developments and further technical indications
The 4-hours Litecoin price analysis indicates an increase in price after the return of the bullish candlesticks on the price chart. The bullish momentum has resulted in the price going up to its current value, which is $106.5. However, the price has been correcting again for the last four hours. A bearish activity was also observed late at night as well, after which bulls took the lead and turned the trend in their own favor. The moving average is still lower than the current price, i.e., $102.8, as the bulls have been largely in control during the day.
The volatility has been high since yesterday, which is why the Bollinger bands average is now at $104.3. The upper and lower Bollinger bands values are as such; the upper value is standing at $113.2, representing the resistance, while the lower value is standing at $95.3, representing the support. The RSI score has gone down to index 51 again after the selling activity seen during the last four hours.
Litecoin price analysis conclusion
The above 1-day and 4-hours Litecoin price analysis shows signs of bullish activity as the price has covered upward movement today as the trend as a whole was bullish mainly. The LTC/USD price is now resting at $106.5 and is expected to go up again. Although in the past week, the market has been quite unsupportive for the buyers, now the buying momentum is on the rise once again.
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