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Litecoin Price Analysis: LTCUSD Price Moving With Bulls?

  • The price of Litecoin increases by 1.20% and is trading at $55.93 against the United state dollar.
  • The RSI index indicated a Neutral signal and the MACD showing the bearish trend.
  • Support areas are found at $52.9753 and $50.6379.
  • Resistance areas are found at $57.1584 and $57.69 and $59.0041.

Current Status of Litecoin: Currently, the 6th position Currency in the market is trading the value of $56.01and its value is moving along with the bulls increasing it by 1.31%. The market capitalization of the currency is $3,549,467,037 and the 24-hour volume of the currency is $2,220,690,840. The circulating supply is 63,373,354 LTC and the ROI of the Litecoin is $1,202.58%.

Litecoin has had a massive fall and currency is dropped from the value of $72.35. The currency even touches the value of $73 but didn’t stay there for long. The next day on Tuesday the currency experienced a massive drop in the value and reach directly up to $67.43 and it is huge. From Wednesday to Sunday the value of the Litecoin was ranging between the values of $50.00 to $58.00 and remain under the bearish pressure.

Yesterday, on Monday the currency open with the value of $54.31 and the closing price was $56.06. Yesterday, also the currency hovers between the particular ranges of values and the highest the currency reached is $56.16. If we compare yesterday’s and today’s price the value of Litecoin is experiencing an increase of 3.21%, which is really positive.

Technical and Price Analysis of Litecoin: If we look at the value chart of 1-day, pair LTC/USD the oscillators and moving averages are in the red zone and showing a sell signal. The RSI value of 34 and its action is neutral at the time in the market and on the other hand, the MACD is in a red zone showing a sell signal. The SMA of 10-day is the closest for the currency to re-test right now, it is able to break out then it could lead towards the SMA of 20-day. On the other hand, the EMA of the currency of 10-day, 20-day, and 50-day is indicating a sell.

The 38.2% Fibonacci retracement from 4 weeks is at the value of $61.8589 low to $68.8352 high, which means the bears are still in power. The major support levels of the LTC/USD are the values of $52.9753 and $50.6379. The major resistance values of the currency are $57.1584 and $57.69 and $59.0041. If the currency is able to break out this time then the currency could reach up to the value of $65.

This post first appeared on Coin Market, please read the originial post: here

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Litecoin Price Analysis: LTCUSD Price Moving With Bulls?


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