Litecoin price analysis: Bullish move strengthens in LTC/USD at $149 resistance
Lately, Litecoin has been trading both positive and negative. After failing to break out of the $130-$140 resistance on July 2, the LTC/USD pair later broke out of the aforementioned range on July 9 to reach $150.6. The next week, LTC/USD broke $169.6 to reach its July 24 high of $173.82. The pair declined to $146.8 before rebounding on July 31 to form a short-term double bottom pattern at $150.
Litecoin price had a great weekend, rising 0.92% and moving above the $140 level. As a result, a number of pending sell orders were cancelled. The higher price also led to a further rise in the volume of LTC/USD which further strengthened the bullish outlook for the near term. A break below the $139 support level followed by a break below $150 could lead to a much needed correction towards the $130 support level.. Read more about litecoin price prediction fxstreet and let us know what you think.
- The price of Litecoin is facing stiff resistance above the $145.68 level.
- Expect a significant increase in today’s market pricing.
- According to the most recent chart analysis, LTC found support around $134.92.
According to the most recent Litecoin price research, the cryptocurrency is on the rise, with positive indications and a resistance level of $145.68. Despite the presence of a few negative candlesticks on today’s chart, the overall trend is still positive.
It’s possible that Litecoin may surpass the $146.01 barrier, causing a significant increase in its market value. With a recent uptick in the positive trend, the price may break over the $145.75 barrier.
LTC/USD 4-hour chart: LTC is favored by buyers.
The latest cryptocurrency chart depicting market movements on the litecoin exchange is trending upwards. The most recent candlestick is green, indicating that the current trend is increasing the price of Litecoin.
Not only that, but the market’s volatility, as measured by the Bollinger bands, is gradually rising, indicating a stronger positive trend in the next week. The Bollinger bands indicate that the Bitcoin value is now trading near $141.02, which is its resistance level.
If we move on to the Moving Average indicator, we can see that its current value is $142.86. The Bollinger Bands’ two extremes are essential indicators for analyzing the LTC/USD chart. The Bollinger Band’s upper end is now set at $147.11, while the lower end is currently at $134.92.
Price chart for LTC/USD for the last four hours. Trading Point of View
Moving on, the Relative Strength Index (RSI) score of the 4-hour Litecoin price chart is now at 59.37. These figures show that the RSI score is trending in favor of cryptocurrencies, as it is approaching the overbought level of 70.
The 1-day price chart for Litecoin indicates a positive trend.
From the last three days, the 1-day price chart of Litecoin has shown a consistent bullish trend that has been effectively maintained. Green candlesticks may still be seen on the charts today, which is a positive indication for cryptocurrencies. The Bollinger bands are showing the resistance level of $145.75 on the 1-day price graph. The bullish momentum is gradually growing, and it is possible that it will break over the present barrier level.
The top edge of the Bollinger band is at $155.60, while the lower edge is at $109.02 in the same figure. When we look at the volatility shown by the Bollinger band, we can see that it is rising and may be beneficial to the value of Litecoin in the near future.
LTC/USD pricing chart for one day. Trading Point of View
According to Litecoin price research, the Relative Strength Index (RSI) score is 60.39, which is a good indicator for bullish momentum. The price of Litecoin may reach an overbought level and set a new high point over $145.75. In addition, as seen in the chart above, the Moving Average indicator is near a resistance level of $142.62.
Technical Indicators Chart for LTC/USD Trading View is the source of this information.
As can be seen from the chart, there are a total of 26 indicators that provide us with market updates. Five indications are currently in the selling position, while 11 are currently in the purchasing position. This indicates that additional buyers are entering the market and putting out effort to raise the price value to a new high. One Oscillator is placed in the selling position, one in the purchasing position, and nine in the neutral position.
When it comes to Moving Average indications, four are in the selling position, one is in the neutral position, and the remaining ten are in the purchasing position. This may indicate that the market is heading in the direction of bullish momentum, and bulls are successful in gaining control of the market.
Conclusion of the Litecoin price analysis: LTC is expected to close over $145.
To summarize the whole study, it is clear that both the 1-day chart and the 4-hour chart are trending in favor of bitcoin value. There’s a better probability that the Litecoin price will break over the $145.75 resistance level and sustain its positive trend. The RSI score, as shown on the 1-day chart, is also rising, and there’s a chance it’ll break over the overbought level of 70.
If the price of Litecoin maintains its support level of $132.32, it has a good probability of eventually crossing the resistance level of $145.75. However, if the Bitcoin price falls below this resistance level, the market is likely to lose money.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
The Litecoin price analysis series is a little different this week. Instead of explaining what the future holds for Litecoin (read: “lite”), I am sharing a sentiment on Litecoin that seems to be shaping the sentiment of the Litecoin price.. Read more about defi news feed and let us know what you think.
This article broadly covered the following related topics:
- ltc to usd
- litecoin news
- litecoin price
- litecoin price news