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Litecoin Price Analysis: Bulls Regaining Control With Support Around $200.

The Litecoin (LTC) price analysis is bullish, as the price is showing signs of recovery following a two-day bearish trend. On Wednesday, October 20th, LTC/USD reached a monthly high when it broke above $200, $207 to be exact, but it was unable to maintain the position and fell to $196 the next day, followed by another low of $190 yesterday, followed by today’s $195.83 USD. However, LTC/USD has resisted further decline as bulls reclaim control of the price function, resulting in a price increase today. The next level of resistance for LTC bulls is $200.

The price of Litecoin has risen to $195 USD at the time of writing, as bulls filled an upwards range from $192.7 to $1935 today, according to the 1-day price chart. Due to the bearish trend for the past two days, LTC/USD has gained 1.5 percent in the last 24 hours. The cryptocurrency, on the other hand, has gained 4.95 percent in the last seven days. The trading volume has decreased by 13.85%, with a +1% incease in market capitalization.

Litecoin Price Analysis: Bulls Regaining Control With Support Around $200.

Litecoin Price Chart : Source – Tradingview

The LTC/USD pair has minimal volatility, and the Bollinger bands reflect an upward trend, with the upper band at $201 representing resistance and the lower band at $174 representing support. The indicator’s mean average is below the $183 price level, which represents support for LTC.

The relative strength index (RSI) is at 57, in the upper half of the neutral zone, with a modest higher curve, indicating some but not very intense purchasing activity in the market. Buyers, on the other hand, have a lot of room to improve their talents.

The 4-hour Litecoin price analysis reveals a negative trend, as the price has recently shown a slight deficit. The price breakup was upwards at the start of today’s session, and it continued to rise for the first four hours, but there has recently been some selling pressure, bringing the price down to $193. Although the loss is minor, it has served as a roadblock to further gains.

Because of the recent breakup of LTC above the $200 area, overall technical indicators are still optimistic, and nearly 14 technical indicators, including moving averages, exponential moving averages, and the MACD oscillator, support the bullish side. Two technical indicators, the Momentum and the Hull moving average, on the other hand, support the bearish side.

The Litecoin technical analysis shows that LTC/USD is currently struggling to move above the $200 threshold, as the price has dropped sharply from $209 to $190.7. LTC/USD is currently stabilizing, and bulls will need more consolidation to see an additional upside.

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