HomeAltcoinsLitecoin price analysis: Bullish momentum starts building up again at $45.36

Litecoin price analysis: Bullish momentum starts building up again at $45.36

-


Litecoin price analysis: Bullish momentum starts building up again at $45.36
Cryptocurrencies prices heatmap, source: Coin360

Litecoin price analysis shows the LTC prices are currently showing some bullish momentum building up again after a brief period of consolidation in the $45-$46 region. The prices have found some support near the $40 level and are currently trading around the $45.36 mark. The current market scenario suggests that Litecoin may rise towards the $50.36 resistance level in the near term. However, if the price fails to sustain above the $46 level, it may fall back towards the $40 support level.

Litecoin price analysis shows that the digital asset has started gaining some momentum as the trading volume is increasing lately, which is currently at $945,452,917.LTC is ranked at position 19 and the total volume market cap is sitting at$3,175,632,020. Litecoin price analysis suggests that the digital asset is likely to continue its upward trend in the near term as long as it sustains above the $45.36 mark.

LTC/USD 1-day price chart: Litecoin prices retest the $50.36 resistance

The 1-day Litecoin prices analysis shows that Litecoin has started to retest the $50.36 resistance after a brief consolidation period in the $46-48 region. Litecoin price analysis has found support at $40 and is currently trading around the $45.36 mark. The bearish tried to push the prices below the $40 support level but failed to do so. In the last 24-hour timeframe, the technical indicator Relative Strength Index (RSI) has risen above the 50 level, which indicates that Litecoin prices may continue to rise in the near term.

Litecoin price analysis: Bullish momentum starts building up again at $45.36
LTC/USD 1-day price chart, Source: TradingView

The Moving Average Convergence Divergence (MACD) on the 1-day timeframe is currently in the bullish zone as the MACD line (blue) is above the signal line (red) this indicates that Litecoin prices may rise further in the near term. The Bollinger band is currently in the overbought region as the prices have breached above the upper Bollinger band.

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

The 4-hour Litecoin price analysis shows that the bulls have been struggling to keep control as the prices have breached below the $46 mark. The digital asset is currently trading at around the $45.36 level which is a bullish sign. The Moving average convergence divergence(MACD) on the 4-hour timeframe is currently moving above the signal line which indicates that Litecoin prices may continue to rise in the near term.

Litecoin price analysis: Bullish momentum starts building up again at $45.36
LTC/USD 4-day price chart, Source: TradingView

The RSI indicator is currently trading at 61.79, which is in the overbought region which shows that the price is in an upward trend. The Bollinger Bands on the 4-hour timeframe have expanded which indicates increased volatility in the market. The digital asset is currently trading near the upper Bollinger band, which indicates that Litecoin prices may fall in the near term.

Litecoin price analysis conclusion

To conclude, Litecoin’s price analysis shows that the market is currently in an uptrend as the prices have found some resistance near the $50.36 level and are currently trading around the $45.36 mark. The digital asset may continue to rise towards the $50,36 resistance level in the near term as long as it sustains above the $46 level. the investors must exercise caution as the prices may fall back towards the $40 support level if the price fails to sustain above the $46 level.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

XRP value sinks to $0.4443 low after a bearish drive

Ripple price analysis shows that the market is bearish in the short term. The XRP/USD pair is currently trading at $0.4443 and is facing...

Stablecoin Issuer Tether Increases US Treasury Portfolio, Cuts Commerical Paper Holdings to Below $50M

The firm had said it plans to bring its commercial paper holdings to zero by the end of the year.

LTC/USD bearish as price slips to $52.76

Litecoin price analysis reveals that after a brief bullish surge, LTC has fallen back below the $53 level against the US dollar. The price...

Ether staking is too difficult, community members claim

Some are arguing that it would be healthy to admit that Ether staking is not for everyone yet. After the Ethereum network’s...

Most Popular

spot_img