Bearish clouds fade as LTC/USD prices near $63.32


Litecoin price analysis shows that the coin is in a bearish trend as it has been trading below the $64 mark for the past few days. However, prices have found some support at $62.11 and are currently trading around $63.32. The coin is facing resistance at $63.85, and a break above this level is needed for prices to continue rising. Bearish managed to push Litecoin’s price towards the support at $62.11 yesterday. The buyers, however, defended this level and managed to push prices back up to $63.32 where they are currently trading.

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Cryptocurrencies price heatmap, Source: Coin360

Litecoin prices have been trading between a range of $62.11 and $63.85 for the past few days now. A break below $62.11 could see prices falling towards the next support at $61.05 while a break above $63.85 could see prices rising towards the next resistance at $65.10.The market cap for the coin is currently $4,459,113,851, and its 24-hour trading volume is at $390,547,831 .

Litecoin price analysis on a 1-day price chart: LTC/USD facing resistance at $63.85

On the 1-day chart, we can see that Litecoin price analysis has been following a downtrend last 24 hours as the price has formed lower highs and lower lows. The price has recently found support at $62.11, and the bulls have attempted to push the price up. However, they have been rejected at $63.85, and the price has started to move downwards again.

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LTC/USD 1-day price chart, Source: TradingView

The Moving Average Convergence Divergence (MACD) indicator shows that the price is currently in a bearish trend as the MACD line (blue) is above the signal line (red). The Relative Strength Index (RSI) indicator is currently at 41.65, which indicates that the coin is in neither overbought nor oversold territory. The EMA50 and EMA20 are currently both above the price, which indicates that the bearish trend is still strong.

LTC/USD 4-hour price analysis: Bulls emerge as LTC prices test $63.42

On the 4-hour chart, we can see that Litecoin price analysis is currently in a bullish trend. Bulls emerged as prices tested the $63.42 level and have been currently trading at the $63.32 for the last 24hours. A break above the $63.42 level is needed for prices to continue rising.

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LTC/USD 4-hour price chart, Soirce: TradingView

The MACD indicator shows that the price is currently in a bullish trend as the MACD line (blue) is below the signal line (red). The RSI indicator is currently at 52.31 which indicates that the coin is neither overbought nor oversold territory. The EMA50 is currently above the price, which indicates that the bulls trend is still strong.

Litecoin price analysis conclusion

Litecoin price analysis shows that the coin is in a bearish trend and is bullish on the 4-hour chart. Prices are currently trading at $63.32 in 24-hour and $63.42 in 4-hour. A break above the $63.42 level is needed for prices to continue rising. Investors should wait for a breakout before making any investment decisions. The bulls trend is still strong and a break above the $63.42 level could see prices rising towards the next resistance at $65.10.

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.

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