Litecoin Price Analysis: LTC/USD bullish uptrend prepares to rally above $52.13

Litecoin price analysis

TL;DR Breakdown

  • Litecoin price analysis shows a bullish trend
  • LTC/USD is facing resistance at $52.47
  • Support for LTC/USD is present at $51.83

Litecoin price analysis shows signs of an uptrend, as the price underwent a further increase in the last 24 hours. The price is on its way toward revival and has recovered up to the $52.13 mark during the day as the bullish trend has gained stability. The past week has proved to be highly supportive for the buyers. A constant uptrend has been on the rise, and a similar trend is observed even today. Further recovery is possible if the buyers remain persistent in their efforts

Cryptocurrency has seen some strong buying pressure as of late and looks poised to continue its upward momentum in the medium term. Litecoin prices have been hovering around the $50-52 level for the past few days, and a breakout above this could see prices move toward the $54.00 region in the near term. The 24-hour trading volume is currently around $301 billion, and the total market capitalization is at $3.72 billion.

LTC/USD 1-day price chart: uptrend causes price rise up to $52.13

The one-day Litecoin price analysis confirms a bullish trend for cryptocurrency, as the LTC/USD value has increased significantly. A considerable degree of increase in coin value is being detected due to emerging bullish efforts. If the buyers remain persistent, it can be predicted that the price will increase further in the next coming hours. The price is now standing at $52.13, as the coin gained 0.26 percent value during the last 24 hours, and the weekly trend line is also going upwards.

image 320
LTC/USD 1-day price chart. Source: TradingView

The price has been trending higher in recent days, and the RSI indicator is currently at 43.71, which is in the overbought region, meaning that a pullback could occur in the near term. The MACD indicator is also in bullish territory and is currently above the signal line, suggesting that prices could continue to move higher. The coin is trading above the 20-day moving average (MA) and the 50-day MA, which is a bullish sign.

Litecoin price analysis 4-hour price chart: LTC maintains bullish at $52.13

The 4-hour chart for Litecoin price analysis shows that the bulls have managed to push prices higher after a period of consolidation. Prices are currently trading above the $52.00 level as the market has formed higher highs and higher lows. LTC/USD is trading between the $51.83 support level and $52.47 resistance levels, with a breakout above the latter needed for further upside. 

image 321
LTC/USD 4-hour price chart. Source: TradingView

The RSI indicator is currently at 53.79, which is in neutral territory, suggesting that prices could move in either direction in the near term. The MACD indicator is also in bullish territory but is close to the signal line, offering that prices could consolidate in the near term. The 20-day moving average (MA) is currently at $34.34, and the 50-day MA is at $33.54, both of which are bullish signs.

Litecoin price analysis conclusion

The price is headed up once again, as it has been confirmed from the one-day and four-hour Litecoin price analysis. The price has followed an upward movement today because of the bullish trend dominating the market. As bulls have been in the driving seat for the past 24 hours, a correction may appear in the coming hours if bears show any activity. But if the buying momentum continues, then LTC may continue upside above the $52.47 mark.

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.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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