Litecoin (LTC) Price Analysis: Bulls Remain In Driver’s Seat
Litecoin price gained a strong bullish momentum after it broke the $48.00 resistance against the US Dollar.
LTC price traded towards the $60.00 resistance and it is currently correcting lower.
There is a key contracting triangle forming with support near $54.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
The pair remains well supported on the downside near $52.00 and $50.00.Litecoin price is trading in a bullish zone above $50.00 against the US Dollar, similar to bitcoin.
LTC price could consolidate in the short term before a fresh increase to $60.00.
Litecoin Price Analysis
This week, there were strong gains in bitcoin, Ethereum, ripple and litecoin against the US Dollar.
LTC price broke the key $48.00 and $50.00 resistance levels to start an uptrend.
Moreover, there was a close above the $50.00 level and the 55 simple moving average (4-hours).
The bulls gained traction and the price rallied above the $55.00 and $58.00 resistance levels.
Finally, a high is formed near $60.77 and the price started correcting gains.
It broke the $58.00 support level, and even traded below the 23.6% Fib retracement level of the upward leg from the $48.88 low to $60.77 high.
On the downside, an initial support is near the $54.80 level.
It coincides with the 50% Fib retracement level of the upward leg from the $48.88 low to $60.77high.
Additionally, there is a key contracting triangle forming with support near $54.00 on the 4-hours chart of the LTC/USD pair.
If there is a downside break below the $54.80 support level and $54.00, there are chances of more losses in the near term.
Then next key support for litecoin price could be near the $51.80 level (the previous breakout zone). The last support for the current uptrend is near $50.00 and the 55 simple moving average (4-hours).
On the upside, an initial resistance is near the $57.50 level and the triangle upper trend line.
If there is a clear break above the triangle resistance, the price is likely to rally towards the $60.00 resistance in the near term.
Read the full topic at
https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-bulls-remain-in-drivers-seat/
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LTC price traded towards the $60.00 resistance and it is currently correcting lower.
There is a key contracting triangle forming with support near $54.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
The pair remains well supported on the downside near $52.00 and $50.00.Litecoin price is trading in a bullish zone above $50.00 against the US Dollar, similar to bitcoin.
LTC price could consolidate in the short term before a fresh increase to $60.00.
Litecoin Price Analysis
This week, there were strong gains in bitcoin, Ethereum, ripple and litecoin against the US Dollar.
LTC price broke the key $48.00 and $50.00 resistance levels to start an uptrend.
Moreover, there was a close above the $50.00 level and the 55 simple moving average (4-hours).
The bulls gained traction and the price rallied above the $55.00 and $58.00 resistance levels.
Finally, a high is formed near $60.77 and the price started correcting gains.
It broke the $58.00 support level, and even traded below the 23.6% Fib retracement level of the upward leg from the $48.88 low to $60.77 high.
On the downside, an initial support is near the $54.80 level.
It coincides with the 50% Fib retracement level of the upward leg from the $48.88 low to $60.77high.
Additionally, there is a key contracting triangle forming with support near $54.00 on the 4-hours chart of the LTC/USD pair.
If there is a downside break below the $54.80 support level and $54.00, there are chances of more losses in the near term.
Then next key support for litecoin price could be near the $51.80 level (the previous breakout zone). The last support for the current uptrend is near $50.00 and the 55 simple moving average (4-hours).
On the upside, an initial resistance is near the $57.50 level and the triangle upper trend line.
If there is a clear break above the triangle resistance, the price is likely to rally towards the $60.00 resistance in the near term.
Read the full topic at
https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-bulls-remain-in-drivers-seat/
Follow me on
Twitter: https://twitter.com/cryptoexpert20
IF you be an admin for your telegram group you can order from the link
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