Litecoin price analysis: Bullish rally drives LTC/USD prices to $63.19

Litecoin price analysis

TL;DR Breakdown

  • Litecoin price analysis shows an uptrend
  • LTC/USD support is present at $58.62
  • LTC has faced rejection at $63.37

Litecoin price analysis shows a bullish trend as the coin has recovered from its intraday low of $59.25 to reach a new high of $63.37. However, this level has acted as resistance for LTC and prices have pulled back below $63.00. The market is looking to recover from the previous lows as prices correct higher. Apecoin’s price is currently trading at $63.19, with 6.19 percent gains in the past 24 hours. The market cap for the coin stands at $4.54 billion, as LTC has a total trading volume of 808 million.

image 314
Cryptocurrencies price heatmap, Source: TradingView

LTC/USD 1-day price chart: Bulls gear up for a push above $63.19

Litecoin price analysis over the past 24 hours shows that the coin had a good run as prices Show an uptrend. However, the gains were short-lived as the market corrected lower. The current market trend is bullish as the market looks to recover from the previous lows. The market is expected to resume its uptrend as prices look to test the $63.37 resistance level once again.

image 312
LTC/USD 1-day price chart. Source: TradingView

The RSI indicator is currently in the overbought region as prices look to consolidate at the current levels. The MACD indicator is also in the bullish zone as the market looks to resume its uptrend. The EMA indicator is currently in the bullish zone, as it is currently above both the EMA 50 and 100.

Litecoin price analysis on the 4-hour chart: Bulls stumble to keep control

The four-hour Litecoin price analysis confirms an increasing trend as the price has covered an upward movement in the past 4 hours. This can be confirmed from the four-hour price chart, where the green candlesticks appear, indicating a rise in coin value. The bullish momentum has successfully rescued the price above the $63.19 margin, and it seems like the bulls are going to achieve their next target soon.

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

The MACD line is above the signal line, which indicates that the price is rising. The RSI indicator is above 60, which confirms the bullish market trend. The hourly EMA is currently at $62.4 and is likely to remain above the EMA 50, which will also support the upward rally of the coin price.

Litecoin price analysis conclusion

Litecoin price analysis for today illustrates that the market is showing a bullish trend as prices have recovered from their intraday lows. The market is expected to continue on this upward trajectory, with the next target being $63.37. Traders should look to buy LTC at current price levels in anticipation of further gains in the near future.

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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