Breakdown of TL; DR
- Litecoin price analysis suggests a rise to $ 60
- LTC faces resistance at the $ 58.20 mark
- The closest support level is $ 55.10
The broader cryptocurrency market has observed bullish market sentiment over the last 24 hours, as most major cryptocurrencies have recorded negative price fluctuations. Major players include NEAR and AVAX, recording 7.57% and 6.59% tilts, respectively.
Litecoin Price Analysis: LTC Makes Another Attempt at $ 60
MACD is currently bearish as shown by the red color in the histogram. However, the indicators have shown little momentum in the last few hours, as observed at the lower heights of the histogram. In addition, the bright shades of the histogram show that the bears are slowing down in the short term.
EMA is currently trading around average positions as net price movements have remained low over the last 7 days. However, due to low market activity, the EMA has moved horizontally above the average and 12-EMA is in control. The low slope of the EMA over the last few hours suggests less trading activity in the LTC market.
The RSI jumped into the oversold area on June 13, but then returned to the neutral zone as pricing behavior recovered to the $ 50.00 level. At the time of the press, the index traded around the overbought level of 70.00, hovering up at 61.79, indicating buying pressure. The current position leaves room for volatile movements in either direction, but the current slope suggests pressure from the bull side of the market.
The Bollinger Bands had been moving across a wide channel until a few days ago, but converged as price movements stagnated at around $ 55.00. Currently, shrinking indicators suggest that price volatility is declining as either side of the market is struggling for control. When pressed, the average line of the indicator provides support with a mark of $ 55.08 and the upper limit indicates the resistance level with a mark of $ 58.16.
LTC / USDT technical analysis
Overall, the 4-hour Litecoin price analysis issues a buy signal at 14 of the 26 key technical indicators that support the bulls. On the other hand, there are only three indicators that support bears that show little or no bearish presence in the last few hours. At the same time, nine indicators are located on the fence and do not support either side of the market.
The 24-hour Litecoin price analysis does not share this sentiment and issues a sell signal with 10 indicators of downward movement as opposed to 7 indicators of upward movement. The analysis shows a bearish advantage across the medium-term chart, while showing strong buying pressure on assets across the medium-term chart. During that time, the nine indicators remain neutral and do not signal when pressed.
What do you expect from Litecoin price analysis?
Litecoin price analysis shows that the Bulls made another attempt at the $ 60.00 mark and successfully split it into the $ 55 mark, but bearish activity still weighs on price behavior across the medium-term charts. increase.
Traders can expect the LTC to rise towards the $ 60.00 mark if the bull breaks above $ 62.50. However, if the bullish momentum remains low, as in the press, prices will level off at around $ 55.00. In either case, the move is unlikely to fall below $ 50.