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Litecoin price analysis: LTC/USD turns bullish, surges past $107 to target $110

litecoin price prediction

TL;DR Breakdown

  • Litecoin price analysis is bullish today
  • The resistance level is present at $107.32
  • The current support is at $101.42
Litecoin price analysis: LTC/USD turns bullish, surges past $107 to target $110 1
Cryptocurrencies prices heatmap, source: Coinn360

Litecoin price analysis shows that LTC/USD pair opened the daily chart with a bullish trend. The prices have surged towards $104.62, an increase of 1.36 percent in the last 24 hours. The LTC/USD prices have been moving at a range of $101.48 and $104.62 for the past two days, consolidating at the higher end of the range. The bullish trend is likely to continue as the prices are well above the moving averages.

Litecoin price analysis shows the trading volume has, however, decreased over the last 24 hours. The next few days are crucial for Litecoin as it needs to sustain above $104.62 for a sustained rally. The major resistance level for LTC/USD pair has been established at $106.6.The short-term support level is at $101.48 and the long-term support level is at $84.62.The immediate resistance is at $106.6 and a break above this level can take the prices to $108 in the near term.

Litecoin price movement in the last 24 hours: Litecoin price sets a definitive upward trend

Litecoin price analysis on 1-day price charts indicates that the LTC/USD pair has opened today’s trading session on a bullish note. The price has surged by 1.36 percent in the last 24 hours and currently, it is being traded at around $104.62. Litecoin started yesterday’s session with a modest gain but bears took over and dragged the prices down to $101.48 by the end of the day. Today, the bulls have taken control and pushed the prices up to $104.62.

Litecoin price analysis: LTC/USD turns bullish, surges past $107 to target $110 2
LTC/USD 1-day price chart, source: TradingView

The moving averages are exhibiting a bullish crossover as the 20-day EMA has crossed above the 50-day SMA. The RSI is in the overbought territory but it has room to move upwards. The MACD line is also in the bullish zone and it signals that the prices are likely to move upwards in the near future. The Bollinger bands are also expanding which suggests that the volatility is increasing.

The key resistance level for LTC/USD pair is at $106.6 and a break above this level can take the prices to $108 in the short term. The immediate support level is at $101.48 and if it is breached, then the next support level can be expected

Litecoin price action on the 4-hour price chart: Bulls seem to have firm control of the LTC prices

Litecoin price analysis on the 4-hour chart shows that the price has been on an uptrend in the last few days. The prices have been trading above the moving averages which suggest that the uptrend is likely to continue.

Litecoin price analysis: LTC/USD turns bullish, surges past $107 to target $110 3
LTC/USD 4-hour price chart, source: TradingView

The technical indicator on the 4-hour price chart, they are showing a strong bullish trend. The EMAs are sloping upwards and the RSI is in the overbought territory. The MACD line is also in the bullish zone but it has started to lose momentum.

The Bollinger bands indicator is showing a moderate expansion which suggests that the prices are likely to see some volatility in the near future. The Relative Strength Index is lying on the overbought territory with a reading of 72.12 and it suggests that the prices might see some consolidation in the near future.

Litecoin price analysis conclusion: Litecoin is likely to see a further rally shortly

From the above Litecoin price analysis, it can be concluded that the LTC prices are likely to move higher shortly. The key resistance levels are at $106.60 and $108. The immediate support level is $101.48. A break below this level can take the prices to $98.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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