Litecoin (LTC) Analysis: Litecoin Price Showcasing Unsustainability Above $150

  • Litecoin price levels were in recovery mode after facing a significant downtrend to the critical support level of $120.00
  • The price levels provided a positive breakout above the crucial mark of $150 but were unable to sustain above 
  • The LTC/BTC pair turned negative with a moderate loss of -0.67%, bringing the current level to 0.003890 BTC 

The weekly performance chart of Litecoin price levels highlights the recovery momentum after testing the critical support level of $110.00. During the current market session, the crypto asset has provided a positive breakout above the crucial mark of $150.00, indicating its ongoing attempt to regain the bullish regime. However, on the intraday chart, the price levels are unable to hold above $150. The CMP is placed at $149.98 with an overall gain of 1.07%, bringing the market capitalization to $9,898,530,249, increasing by 0.72%. The 24-hour volume traded has reached $8,059,176,538, causing an uptrend of 4.16%. 

Litecoin Price Levels Facing Resistance at 0.5fib Level

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The technical chart highlights the significant bearish trend faced by Litecoin price levels forcing it to test the retracement table’s baseline. The levels did have a positive bounceback but currently facing resistance at 0.5fib level. A positive breakout in candle closing above the resistance line can be a confirmed bullish indication for the upcoming trading sessions. 

The relative strength index (RSI) has retraced back after testing the overbought region but could not have a positive breakout. The current level stands at 55.19. 

The moving average convergence & divergence (MACD) looked vulnerable for a bearish crossover, which can again diverge the levels below the histogram line. 

The directional movement index (DMI) also showcased bearish nature as ADX took a negative turn and faced negative crossover against -DI.

Resistance Level: $150.00

Support Level: $120.00

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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