In today’s Litecoin price analysis, LTCUSD is trading in a strong uptrend above $70 and is likely to surge towards $80.00 as long as it is above the support level of $67.
Litecoin Price Medium-term Trend
After finding support above the $60 level, the price of Litecoin (LTC) resumed the uptrend. The bulls were able to push the price above $65 and $68 resistance levels.
Moreover, there was a break above the $70 resistance and this opened the door for more gains towards the $73 level. However, at the time of writing this Litecoin price analysis, the bulls have failed to clear the hurdles towards the resistance level of $73. Also, the bears are trying to pull the price down to the $67 support level.
On the upside, the bulls will attempt to push the price toward $75 resistance. If successful, a rally to $80 and above it to $90 is possible. On the other hand, if there is a strong decline below the $70 and $67 support, the price is likely to move into a bearish zone.
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 $66 and $70 level. A clear break above the $74 level could set the pace for a larger move towards $76.00 in the short term.
In the meantime, the MACD line and the signal line are below the zero line which indicates a sell signal.
- Resistance levels: $75, $80, $90
- Support levels: $73, $,70 $67
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.