Today, we are going to discuss the cryptocurrency Litecoin. As the name suggests, Litecoin has been designed to run efficiently on a lot of computers. It is also highly portable, as it can be transferred with a USB flash drive. Another advantage of the Litecoin is that it is secure unlike Bitcoin.
The LTC/USD pair is taking a break from its consolidation, and looks set to test the $170 support area again. There isn’t a lot of movement in the hourly charts, but it’s a small change, so we’ll keep an eye on it. If we can take out $170, then we can start to take a look at $160, and beyond that, $150. The range between $170 and $180 is the most likely to produce a break.
Litecoin has made a huge comeback in the past few days, after testing the lower part of the $150-$170 range for much of the week. The bulls have been quite active in recent days, as the price has retested the important $170 resistance line. After breaking through that level and establishing a high of $186, the bulls have kept the momentum and are pushing the price upwards again. The Litecoin price is currently consolidating a short-term top, and it is likely to continue moving upwards in the coming hours. However, it should be noted that the bears will always be there to defend the $170 support.. Read more about litecoin forecast today and let us know what you think.
Summary of the situation
During the night, the LTC moved sideways.
The $170 support is still in place.
The next resistance is at the $220 level.
The Litecoin price analysis for today is bullish as the market continues to move sideways, creating a base from which it can move higher next week. Therefore, we expect LTC/USD to reach the $220 level next week and continue moving higher from there. Crypto-currency heat map. Source: Coin360 The general market has been relatively stable over the past 24 hours. Bitcoin is unchanged and Ethereum is trading with a small gain of 2%. The rest of the market follows this relatively quiet price action pattern. LTC/USD opened at $173 today, after closing slightly lower yesterday. Overnight, LTC/USD found support at $170, which means we expect a move towards $220 in the next 24 hours, as this is the next resistance target.
Litecoin price movement in the last 24 hours
LTC/USD traded in a range of $168 to $180, indicating moderate volatility. Trading volume fell 10% to $2.4 billion. At the same time, the total value of the market is $11.8 billion, which puts the cryptocurrency in 14th place overall.
LTC/USD 4-hour chart – Is the LTC preparing for a rise?
On the 4-hour chart, we can see that the Litecoin price is still consolidating above the $170 support level over the past 24 hours, forming a base from which it can move higher in the coming week. 4 hour chart LTC/USD. Source: TradingView The overall market has continued to move sideways in recent days after hitting a low of $120 late last month. With a 70% drop in the price of Litecoin, we think the bears are probably exhausted and we could see a strong reversal next week. In recent days, Litecoin has hit both higher lows and lower highs, suggesting the market is moving in an increasingly narrow range. So if Litecoin finally gets enough momentum to break through the $200 level, we can expect more gains this month and a reversal of the bearish price action within a few weeks. For now, however, it is better to stay on the sidelines and wait for prices to evolve.
Litecoin Price Analysis: Supplement
Litecoin price analysis is bullish as the market continues to hold the $170 support level and prepares to move higher to eventually break out of the multi-week bearish price momentum. Therefore, early next week we can expect Litecoin to move further towards the $220 level, which will increase the upside. In anticipation of a further rise in the Litecoin price, read our guides on Cardano, Zcash, and how to invest in Bitcoin. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.If you’ve been following the cryptocurrency market for the past two years, you’ve no doubt noticed Litecoin (LTC) is one of the oldest and most established altcoins out there. But while Litecoin has proven itself as a reliable option for those who want to “mine” cryptocurrencies, it’s still one that has to contend with the many other competitors in its field. Over the past several months, LTC has seen one of its most impressive price surges in 2018, peaking over the $200 mark last month before steadily declining to its current price of $168.. Read more about litecoin or ripple and let us know what you think.
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