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Litecoin price analysis: LTC bulls push prices to $112.82 level

Litecoin price analysis Bulls head on towards next aim after surpassing

TL;DR Breakdown

  • Litecoin price analysis is bullish
  • LTC/USD current resistance is seen at $112.82
  • Support for LTC/USD prices is currently at $109.77
Litecoin price analysis: LTC bulls push prices to $112.82 level 1
Cryptocurrencies prices heatmap, source: Coin360

Today Litecoin price analysis shows a bullish trend. Litecoin’s price is currently trading at $112.82 after bulls managed to push prices from an intraday low of $111.01. The market capitalization currently stands at $7 billion, with LTC’s dominance rate at 3.6%. Litecoin prices are seeking support at $109.77 but the immediate resistance is seen at $112.82.

Bulls managed to take control of the market yesterday, pushing prices from an intraday low of $111.01 to a high of $118.68. The market capitalization increased by more than $1 billion in 24 hours, with Litecoin’s dominance rate rising to 3.8%. Despite the bullish trend, LTC/USD prices are still facing some resistance at $112.82.

Litecoin Price analysis on a 1-day price chart: LTC/USD bulls maintain the upward trend

On the 1-day price chart, Litecoin is in a clear uptrend as the coin is above both the 50-day and 20-day moving averages. The RSI indicator is currently at 63.80 and is not overbought or oversold. This indicates that there is still some room for Litecoin prices to move higher. Litecoin market vitality is seen to be high, with buyers currently in control of the market.

Litecoin price analysis: LTC bulls push prices to $112.82 level 2
LTC/USD 1-day price chart, source: TradingView

The EMAs are currently sloping upwards, indicating that the bullish trend is likely to continue. The moving averages are also well above the price of Litecoin, which shows that the bulls are currently in control. The MACD line is also above the signal line, indicating that the bullish momentum is still strong.

Litecoin Price analysis on a 4-hour price chart:Litecoin is likely to see a further rally shortly

On the 4-hour price chart, Litecoin is in a clear uptrend as the coin is trading above both the 50-day and 20-day moving averages. The RSI indicator is currently at 63.80 and is not overbought or oversold. This indicates that there is still some room for Litecoin prices to move higher.

Litecoin price analysis: LTC bulls push prices to $112.82 level 3
LTC/USD 4-hour price chart, source: TradingView

The moving averages are indicating a high buying pressure as they are well above the price of Litecoin. The MACD line is also above the signal line, indicating that the bullish momentum is still strong. Further technical indicators reveal that the bullish momentum is likely to persist in the near future.

Litecoin price analysis conclusion

Today’s Litecoin price analysis shows that bulls have taken control of the market and are pushing prices higher. Prices are currently trading at $112.82 and are facing some resistance at this level. However, the technical indicators reveal that the bullish trend is likely to continue 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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