The bulls have regained control of the price function today, resuming the uptrend. Today, it is expected that the LTC will continue to recover in value.
The 1-day price chart for Litecoin price analysis shows that the price has risen slightly today, and LTC has been fighting to maintain the price level. At the time of writing, the coin is valued at $56.00. Today, the LTC/USD traded in a narrow range of $54.19 to $56.01. The crypto pair is still down 0.35 percent in the previous 24 hours.
According to the 4-hour Litecoin price analysis, the price breakout was upward at the start of today's session, and bulls raised the price levels to some amount throughout the first four hours. Following that, some bearish resistance was encountered, but in the last few hours, buying pressure has been focused on ruling out the bearish action, and the price has begun to rise again.
The coin's chart has continued to show higher highs, indicating that the bulls were in charge of the price. As a result, the cryptocurrency broke its consolidation and burst over key resistance levels. At the time of writing, the coin's technical outlook was bullish.
The demand for Litecoin has increased as the coin's demand has increased. At the $54.50 price level, the currency has found firm support. LTC is now trading at a critical price level after struggling to break through for several weeks.
Other technical indicators have also led to the idea that bullishness has increased buying strength on the one-day chart. The Moving Average Convergence Divergence indicator shows the asset's price movement and direction.
The MACD was bullish, with green histograms above the half-line, indicating that the asset should be bought. Bollinger Bands indicate the coin's price fluctuations and volatility. The bands were beginning to expand, indicating the possibility of a price volatility in the near future.
According to Price Analysis, The market capitalization of this LTC is estimated to be $4,008,267,608. The 24-hour trading volume for the coin is around $452,718,480. ETH market capitalization has fallen by 0.19%. However, trade volume decreased by 33.10% during intraday trading.
On the upside, An immediate resistance barrier on the upside is $57.50. The first significant resistance is at $58.50, after which the price may continue to rise swiftly. It may reach $60 in the aforementioned case. Any more rises might push the price up to $62. Above $62, the price might quickly reach $65.
If LTC fails to break through the immediate resistance level of $57.50,On the downside, an immediate support level is at $55.50 and hourly 100 simple day moving average. The next major support is at $54.00. If the price breaks below the $54.00 support level, it may accelerate lower below the $52.00 level in the short future. If the $52.00 level is not sustained, sharp panic selling may occur at $50.00.
KEY LEVELS :
RESISTANCE LEVEL : $57.50-$59.50
SUPPORT LEVEL : $55.00-$53.00
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