- Litecoin (LTC) is currently trading at $87.93 with a decline of -0.80% in the 24 hours.
- Its price is observing an increase of 13.42% in the last 7 days.
- The LTC market capitalization is $6414705872.
Litecoin trying to bounce back. By evaluating the price data of the LTC coin, it is observed that it is heading toward an uptrend. The price inclined by 13.42% in the last seven days and we can say that it performed well last week. From its peak price of $1.15, it fell -78.59% in the last 2 years. The coin demolished the majority of investors’ wealth. The current market sentiments are neutral about the coin. A decent volume is entering Litecoin at present. As of now, there is no buyer interested in buying it.
Litecoin (LTC) Technical Analysis
The price of Litecoin (LTC) has jumped above 50 and 200 EMA, which suggests that the price is entering a bullish trend. If the buyers continue to push the price down, the coin’s value may fall even further in the upcoming week.
The price has been consolidating near 200 days EMA again which suggests that Sellers are not in the mood to give power to buyers. A golden cross has also been seen in the chart between 50-day and 200-day EMA which is a positive sign.
The technical indicator MACD is also in the positive territory. The MACD line at 0.30 and signal line at 1.17 is below the zero line, suggesting that the MACD is heading toward positive territory and is giving bullish signals.
The current value of RSI is 55.25 points. The 14 SMA line is currently below the median line, around 1.18 points which shows bullish sentiment in the market. The bullish trend is indicated by the 14-day SMA line heading above the median line. As the price is in oversold territory, the market is experiencing bullish sentiment.
Litecoin (LTC) Trendline Analysis:
The price has respected its significant trendline and is heading for support. As soon as the price breaks the trendline, it will rise to the next resistance and if it gets rejected by the resistance, then it will fall back to the current support.
Volume Analysis:
Litecoin (LTC)’s trading volume of 24 hours is $428625401, with a -27.90% increase in volume in the last 24 hours. There is a significant boost in the volume of the coin.
Technical Levels:
- Support – The current support level of LTC is $71.25.
- Resistance –The current resistance level of LTC is $96.96.
Conclusion
In Litecoin (LTC), we can see a tough fight between bulls and bears, as the coin is trying to come back. The price action shows that the price may grow more in the upcoming days if the upper resistance level breaks. LTC price shows an optimistic scenario at the moment. Major reliable indicators like EMA, RSI, and MACD give positive signals about it. Hope is developed among investors because of the good performance of the coin in recent times. It is not showing recovery signs right now.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.