In today’s Litecoin price analysis, LTCUSD is trading in a strong uptrend above $78 and is likely to surge towards $100 as long as it is above the support level of $75.
Litecoin Price Medium-term Trend
After failing to break above the $78 level, the price of Litecoin (LTC) corrected downward to $73 level on February 9. However, the bears were resisted as the market opens today on a bullish note at $74. At the time of writing this Litecoin price analysis, LTC is galloping towards $80 key resistance.
On the upside, a successful rally to $80 will open the doors to $90 level. If successful, the next level to watch on the upside is $100. On the other hand, if there is a strong decline below the $78, the price is likely to $70.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
LTCUSD Price Short-term Trend
On the 1-hour chart, LTCUSD price is trading in a bullish trend zone above the $78 level. A clear break above the $78 level could set the pace for a larger move towards $80 in the short term. Above this, additional resistance lies at $83, $85.
In the meantime, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance Levels : $80, $90, $100
- Support Levels: $78, $70, $60
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.