litecoin price Analysis shows that LTC/USD has picked up some bullish momentum after a pause. The coin managed to recover its losses and climbed above $88. The bears were in the market during today’s trading session, but the bulls are dominating the market.
At the time of writing, LTC/USD is trading around $88.11 after seeing a price gain of 0.88%. The coin has managed to break above the $88.85 resistance level and if it holds up, we could see more bullish momentum in the coming days. If so, expect support at $86.00.
LTC/USD 1-day price chart: price level to $88.11, bulls manage to penetrate
litecoin price Analysis of the 24-hour chart shows that LTC/USD has regained its bullish momentum as the market surged above $88.11. The bears will try to defend his $86.00 and push the price down, but so far have been unsuccessful as the bulls have gained control.
The Relative Strength Index (RSI) is currently at 67.69, indicating neutral market sentiment with neither buyers nor sellers in control yet. The MACD points to increasing bullish momentum and could go higher if the LTC price continues to rise. EMA 50 is above EMA 20 and EMA 9 is below EMA 26, indicating a bullish market.
LTCUSD 4-Hour Chart: Bulls and Bears Vie for Dominance
Litecoin price analysis on the 4-hour chart confirms an upward trend as the price has covered its upward movement in the last few hours despite the fact that the price breakout was downward. This can be seen from the 4-hour chart, where green candlesticks appear to indicate the coin’s rising value. The bullish momentum has pushed the price above the $88.85 margin and it looks like the bulls are about to hit their next target soon.
The EMA indicator also points to a bullish crossover as the EMA 9 and 26 are currently trading above the EMA 50. The RSI is currently at 62.12, indicating that the market still has the strength for the bull to push his LTC/USD higher. Finally, the MACD is also above the signal line, indicating an uptrend.
Litecoin Price Analysis Conclusion
Overall, Litecoin’s price analysis shows that LTC/USD is on a bullish trajectory and is likely to appreciate further if the bulls can maintain their position. The coin needs to stay above $88.00 for this to happen, but there is still support at $86.00 if the bear market returns.