On the 4-hour chart, we can see the Litecoin price action resuming its bullish trend, which suggests that earlier support at $250 will be tested as resistance later today.
MACD is now providing resistance. Given that this is a weekly graph, prices may take some time to rise, but given the history of weekly charts, we predict a north-facing break to occur soon.
Buyers are currently attempting to keep prices above $ 200, but there is no assurance that they will succeed, therefore traders should hold off on trading a breakpoint until confirmation is received. If either side can break above or below its support levels of $ 220 and $ 190, respectively, a new trend will emerge. If this is not the case, the value action will most likely remain neutral, with only a tiny variation between the two values.
LTC/USD 1 Day Price Chart: Source – Coinmarketcap.com
Between $ 220 and $ 230, we predict some sell-off stability. Prices will most likely continue to follow the upward pattern if the market remains neutral. Following that, the price of Litecoin swiftly increased, reaching a new high of $ 300 in a few months. The price dipped again after recovering to $ 250, before reaching a high of $ 280. A low-key strike occurred on November 13th, followed by another $ 280 ascension test.
The Relative Strength Index is currently over 50 but dropping, indicating that prices will likely continue to rise. However, if these data continue to rise, there’s a risk we’ll see another dip away from the $200 support level.
The process may take a few hours, but we expect Litecoin to rise to $250 in the next 24 hours or more if the support of less than $200 remains.
Because we expect the market to recover following significant sales that began at midnight, the price of Litecoin is already climbing. As a result, the LTC/USD pair is predicted to rise further, with the first key barrier of $250 to be tested next.