Litecoin News, Market Analysis

Litecoin Analysis: Price Rebound Over $186 Soon.

For the previous few weeks, Litecoin (LTC) bulls have ruled the price charts, and even today, a price increase has been recorded. The bulls were able to make a good recovery in the previous 24-hours, and the price is now back at $184. Although there was a significant decrease in price earlier, the bulls were able to recover and push the price above $186 once more. The price may rise much higher in the following hours, which is quite appealing to purchasers.

 As the bullish momentum has been resurrected, the one-day Litecoin price analysis predicts again at price. Although the price has lately fallen, the current trend is once again favorable of the bulls. Over the last two weeks, the price has been on the rise, and it is currently trading at $184.31. The price has remained above the MA value of $180.9, which is the moving average indicator. 

In the previous weeks, a crossing between SMA 20 and SMA 50 was also observed, confirming the bullish trend. The highest value of the Bollinger bands indicator is $197.65, while the lower value is $147.02. For the day, the RSI score is balanced at 58.92.

Litecoin Analysis: Price Rebound Over $186 Soon.

LTC/USD Price Chart – Source: TradingView

A price gain has been identified in the four-hour Litecoin price study, indicating bullish activity. After regaining positive momentum, the price levels have already reached $186.3. For the last few hours, there had been a downward trend, but the bulls were able to reclaim control. Because of the recent decrease, the price is still below the moving average level of $187.61.

At the time of writing, the Bollinger bands average is $185.31. The upper Bollinger band is currently at $192.5, while the lower Bollinger band is currently at $178.13. The RSI score is 54.77, which is regarded to be very neutral. Nonetheless, the bulls have managed to hold the price around $186 for the time being.

In general, the coin value has increased significantly during the previous two weeks. This is why the technical indicators chart for LTC/USD has 14 indications on the purchasing side, eight indicators on the neutral side, and just four indicators on the selling side, indicating a positive trend.

Leave a Comment

Your email address will not be published. Required fields are marked *