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Litecoin price meets strong resistance at $61.79

Litecoin price rejected from strong resistance at

For a brief moment, Litecoin price leaps across the $70.00 mark on January 30 after facing a bullish trend at the start of the day. The cryptocurrency rested between the $60.00 and $62.00 marks for January 29. The coin retreated towards $67 US Dollars before the day ended. Opposing the recent idea of the price dropping to the nearest support line, the cryptocurrency continued moving towards the $70.00 mark.

1-Day Litecoin Price Analysis (January 30)

Litecoin Price Chart

Litecoin Price Chart by TradingView

According to the price chart for Litecoin, the cryptocurrency’s price started a bullish trend at 07:09 GMT and began climbing towards the $70.00 mark. The coin had leapt across $68.00 by 16:21 GMT and then rested at the same price level until 19:42 GMT. By 20:42 GMT, LTC had jumped across the $70.00 mark and reached a day’s high of $70.29 US Dollars.

Just as these lines are being written, Litecoin trades at $67.65 US Dollars.

Technical Indicators for Litecoin

Litecoin price meets strong resistance at $61.79

Litecoin Price Chart by TradingView

The 20-Day Exponential Moving Average (EMA) has a closing value of $68.18, whereas the 50-Day Moving Average (MA) closed at $68.65. The Relative Strength Index (RSI) currently stands at 37.69.

After LTCUSD reached a strong resistance level of $61.79 (before 09:00 GMT), the price was expected to drop to the nearest support level that lied at $58.07. The ongoing price pattern does not follow the proposed idea, as the cryptocurrency moved across the $70.00 mark, thus showing no fall towards the nearest support lying at $58.07.

Featured Image by Ian Espinosa.

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

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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