Litecoin price analysis shows that the coin is in an uptrend and has made significant profits in the last 24 hours. The coin is currently trading at $63.48 and facing resistance at $63.50, a break above this level could see the price test the $65 level. The support level is $60.55; A break below this level could push the price towards $58.
The cryptocurrency is up a total of 4.86 percent over the last 24 hours and is currently trading above the $63 level. The coin has been in a consolidation phase between $60 and $63, but gains managed to push the price higher earlier in the week. Market cap increased to $4.5 billion and 24-hour trading volume was $323 million.
Daily LTC/USD Price Chart Analysis: LTC/USD is trading at $63.48 after an uptrend
Litecoin’s daily price analysis shows that the coin is currently in an uptrend as it has hit higher highs and lows. The coin was recently rejected at $63.50 but found support at $60.55. The bears struggled to keep the price below $63 but the bulls had the upper hand as they pushed the price higher.
The RSI is currently trading at the 60 level, which indicates that the market is engaged in bullish momentum. However, if the RSI approaches overbought territory, we may see a decline in the price. All exponential moving averages are supported by the bulls as the 50 EMA is currently offering support at $60.36 and the 200 EMA at $60.56. The MACD indicator line (blue) is currently trading above the signal line (red), which is a bullish sign. This pattern usually leads to an upside breakout, which could result in the price testing the $65 level in the short term.
Litecoin price analysis in 4-hour price chart: Latest developments and additional technical notes
Litecoin’s 4-hour price analysis shows that the bulls are in control as the market is in an uptrend, the bulls are holding onto the lead quite effectively. Although the bulls managed to increase the coin’s value in the early hours of the morning, the price has eased a bit and is currently trading at $63.48. The LTC/USD pair is trading between strong support at $60.55 and resistance at $63.50, technical indicators show.
The RSI indicator line hovers around the 63 level, indicating that the market is in favor of the advance. However, if the price breaks through the current range, we could see a price rally. The EMA gives mixed signals as the 50 EMA offers resistance at $62.02 and the 200 EMA at $58.56. The MACD indicator line is currently trading below the signal line, which is a bearish sign but could change in the near term.
Litecoin price analysis conclusion
LTC/USD is in an uptrend from Litecoin’s price analysis, it is evident that the coin is in an uptrend as all market indicators give positive signals. The coin has made significant gains and is currently trading at $63.48. The 1-day and 4-hour charts show that the market is in an uptrend and the bulls are in control and more profits are expected.