Litecoin price follows the upward plan towards $76

After returning to its previous range from February 01 to February 04 ($69.613 ⁠— $72.789), the Litecoin price is headed on its upward plan, where is expected to continue it. The cryptocurrency had seen bulls right after it entered February 05 and continued to climb until it reached the $73.00 mark.

1-Day Litecoin Price Analysis (February 05)

Litecoin Price Chart

Litecoin Price Chart by TradingView

After climbing above the $70.00 mark at the beginning of February 04, the price gradually fell to $67.00 mark before noon. The cryptocurrency reached the $68.00 mark after exhibiting trade between the $67.00 and $68.00 marks until the end of February 04.

Just before February 05 started, the cryptocurrency’s price line started with an upward movement and the trading pair was led to the $72.00 mark by 12:01 GMT on February 05. Following a brief retracement, the cryptocurrency slid past the $73.00 mark and saw a day’s high of $73.47 at 17:37 GMT. Currently, the cryptocurrency trades at $72.91 US Dollars.

As per the upward plan, Litecoin is expected to follow up to $74.586 and $76.174 as the 4th and 5th targets, after having accomplished the first three ($69.613, $71.416 and $72.789).

Technical Indicators for Litecoin

Litecoin Featured Price Chart

Litecoin Featured Price Chart by TradingView

The Relative Strength Index (RSI) lies at 47.61 at the time of writing, whereas the 20-Day Exponential Moving Average (EMA) closed the 24-Hour analysis at $73.04, and the 50-Day Moving Average (MA) closed the trade at $72.65.

Featured Image by Dmitry Bayer.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.