Litecoin News, Market Analysis

Litecoin Price Analysis – Bulls Are Accumulating For A Pump Over $250 Anytime.

The Litecoin (LTC) price analysis is now optimistic. Today, the bulls have recovered a strong range of $218 to $221. The price rose from $203 to the present level thanks to the positive momentum that began yesterday. Today, there was a strong swing near $227.9 at one time.

LTC has $207 in support, followed by $197.8 in support. LTC, on the other hand, faces resistance around $229, followed by further obstacles at $262. After hitting a high of $279 on November 14th, the currency has dropped to as low as 204 on November 18th. The damage was significant enough, but the currency has also exhibited some notable improvement since yesterday.

When Will Litecoin Break $300 Resistance

The 1-day price chart for Litecoin (LTC) price analysis reveals that the current bullish momentum has produced positive results, as LTC is presently trading at $227.7 at the time of writing, as the bullish trend is in its second day. Over the previous 24 hours, LTC has gained 2.4% in value but has lost 11.5% in value over the last week. Despite yesterday’s upward trend, trade volume has dropped by 24.3%.

Litecoin Price Analysis - Bulls Are Accumulating For A Pump Over $250 Anytime.

7-Day Litecoin Price Chart – Source: CoinMarketCap

The Bollinger bands do not exhibit any substantial change, indicating that the volatility is nearly constant. The bottom band, on the other hand, shows some convergence, extending the support level for LTC to $175 and displaying resistance for LTC at $228.8. The indicator’s mean average is visible at this moment, and the price is trading below the mean average.

The relative strength index (RSI) is trading at index 50, right in the middle of the neutral zone. The RSI trending curve is slightly upwards, and the indicator offers plenty of potential for more purchasing activity as well as the same area for bearish activity.

Litecoin Price Recent Price Changes

The 4-hour Litecoin (LTC) price analysis reveals that the price has been growing from the start of today’s session, but there has lately been some bearish resistance, although the price oscillation was not quick, neither was it sluggish.

On the 4-hour chart, volatility is somewhat strong, with the upper Bollinger band representing resistance at $236 and the lower band representing support at $210. If the reversal persists, the indicator’s mean average of $218 indicates initial lining support for LTC. 

Conclusion

The crypto pair is overall positive, according to the Litecoin price analysis, and the price is trending upwards. However, as the latest candlestick is red on the 4-hour chart, there is some selling pressure building up, and the RSI also signals a slowing in the purchasing. On the other hand, as the technical indications imply, the momentum is to the higher, and bulls may yet push through to the $230 level if they gain enough support.

Leave a Comment

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