Litecoin price has declined below the $45 level and is struggling to recover. if more buyers emerge, the crypto’s price rise will rise towards the $45 resistance level.
Litecoin Price Medium-term Analysis
After a steady rise, the price of Litecoin (LTC) struggled to continue higher. LTC bulls faced a strong resistance near the $45 level before the price started correcting lower. The price dropped to the $38 level, below the 55 Simple Moving Average on the 4-hours chart.
At the time of writing, the coin is now recovering. Litecoin price is changing hands at the $41 level. On the upside, if more buyers emerge, the crypto’s price rise will rise towards the $45 and $50 resistance level. On the other hand, further losses may perhaps lead the price towards the $38 level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
LTCUSD Price Short-term Analysis
On the 1-hour chart, LTCUSD price is showing positive signs after breaking above the $39 and $40 support levels. Nevertheless, an upside correction towards $41 might face sellers. On the downside, the main supports are near $40 and $38.
In the meantime, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance levels: $45, $50, $55
- Support levels: $40, $38, $35
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.