In today’s Litecoin price analysis, if the coin breaks above the $140 level, then, LTCUSD price will reach the previous high of $160 level.
Litecoin Price Analysis
Last week, Litecoin (LTC) price was trading in a bullish trend zone. The 12-day and the 26-day Exponential Moving Averages (EMAs) are pointing northward, which indicates that the price is in a bullish trend. It was fluctuating between the levels of $130 and $140.
Yesterday, LTC bulls tested the $140 price level but they met resistance. If Litecoin price retraces and breaks below the EMAs, then it is likely to drop to a low at $110 or $120 price level. On the other hand, if Litecoin price breaks above the $140 price level, it will reach the previous high of $160 price level. The Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line, which is an indication of a buy signal.
LTCUSD Price Short-term Analysis
A look at the 1-hour chart shows that LTCUSD price of is in a bullish trend. On June 16, LTC bulls tested the $140 price level but they were resisted. LTCUSD price retraced to the 26-day EMA and made another upward move to retest the $140 price level.
The bulls were defeated as the LTCUSD price dropped to a low at $134 level. The EMAs are flattening indicating that price has resumed a range bound move. The LTCUSD price is fluctuating below and above the EMAs. The MACD line and the signal line are above the zero line, an indication of a buy signal.
- Resistance Levels: $140, $150, $160
- Support levels: $130, $120, $110
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.