- Litecoin is holding the key support at $70.00 against the US Dollar.
- LTC price is now trading below $75.00 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $74.50 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
- The pair could gain bullish momentum if it clears the $74.50 and $75.00 resistance levels.
Litecoin price is recovering from the $70.00 zone against the US Dollar, like Bitcoin. LTC price could climb again if there is a clear move above $75.00.
Litecoin Price Analysis
In the past few days, there was a decent increase in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. However, LTC struggled to clear the $80.00 resistance zone and started a fresh decline.
There was a move below the $76.00 and $75.00 support levels. Finally, the bulls protected the key support at $70.00. A low is formed near $70.11 and the price is now attempting a fresh increase. The price started a recovery wave above the $72.20 level.
It broke the 23.6% Fib retracement level of the downward move from the $79.54 swing high to the $70.11 low. Litecoin is now trading below $75.00 and the 55 simple moving average (4 hours).
On the upside, the price is facing resistance near the $75.00 level. There is also a key bearish trend line forming with resistance near $74.50 on the 4-hour chart of the LTC/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $79.54 swing high to the $70.11 low.
The next major resistance is near the $76.00 level. A clear move above the $76.00 level could push the price toward the $80.00 zone. The next major resistance sits near the $85.00 level. Any more gains might send the price toward the $88.00 level.
On the downside, initial support is near the $72.20 level. The next major support is near the $70.00 level. If there is a downside break below the $70.00 support, the price could accelerate lower toward the $65.00 level in the near term.
Looking at the chart, Litecoin’s price is trading below $75.00 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $74.50 and $75.00 resistance levels.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now losing pace in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.
Key Support Levels – $72.50 and $70.00.
Key Resistance Levels – $74.50 and $75.00.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-can-bulls-push-price-above-this-resistance/
- :is
- 11
- 20
- 23
- 50
- 54
- a
- above
- accelerate
- again
- against
- also
- analysis
- and
- any
- At
- attempting
- average
- bearish
- below
- Bitcoin
- Bitcoin News
- Break
- Broke
- Bullish
- Bulls
- CAN
- Chart
- clear
- climb
- Close
- coinbase
- could
- data
- Days
- Decline
- Dollar
- downside
- downward
- facing
- few
- Finally
- For
- formed
- fresh
- fresh increase
- from
- Gain
- Gains
- High
- holding
- HOURS
- However
- HTTPS
- if
- in
- Increase
- index
- initial
- IT
- Key
- Level
- levels
- like
- Line
- Litecoin
- Litecoin (LTC)
- Litecoin (LTC) Price
- live
- Live Bitcoin News
- losing
- Low
- lower
- LTC
- ltc price
- LTC/USD
- MACD
- major
- max-width
- might
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- protected
- Push
- recovering
- recovery
- relative
- relative strength index
- Resistance
- retracement
- Ripple
- rsi
- send
- Simple
- sits
- started
- strength
- support
- support levels
- Swing
- term
- The
- There.
- this
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- was
- Wave
- with
- zephyrnet