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- Litecoin price performs in a positive momentum this week
- Litecoin price currently trades at $161.85, which is up by 14.19% in last the 24 hours and 12.86% up from the previous week
- LTC/BTC pair also performs positive with a gain of 4.60% in Monday’s trading session (0.004345)
Litecoin price was in positive momentum on the weekly chart and went up to $185.78 on January 10, 2021, by breaking above the resistance zones created in the past. LTC price set up a mark of 52-weeks high with the help of overall market conditions. The LTC/BTC pair is in an uptrend with a value of 4.60% in Monday’s trading session (0.004345).
Litecoin Technical Charts Indicates: LTC moving Towards $177
The daily technical chart of Litecoin price highlights a positive trend with the help of overall market conditions on Tuesday’s trading session. The price is currently sitting at $161.85, with a resistance zone of $177.59, following the support zone of $130.70. On diving into the weekly chart of a 1-day time frame, it formed a bullish engulfing candlestick pattern. Indicating a buy signal in the coin.
If we look at 20 & 50 days, the exponential moving average (EMA), 20 EMA (blue line) is at $146.55, and 50 EMA (purple line) is $125.70. The price is above both the EMA one can expect a continued bullish trend in the coin for the next few trading sessions.
The Volume indicator of value (365.458K) reflects a moderate buying volume in the coin with the overall market’s help, we can further see an increase in volume in Tuesday’s trading session.
MACD indicator (Bearish) one cannot observe any bullish crossover on the signal line on January 19, 2021, during the trading session. This indicates a sell signal in the coin and also observes decreasing red bars in the Histogram, signalling it may soon form a bullish crossover in the upcoming trading session.
Meanwhile, the RSI indicator (Bullish) with a value of 60 indicates a buy signal in the coin. It may soon move towards the overbought territory in upcoming trading sessions if buying continues further.
Conclusion
Litecoin price is up by 14% on Tuesday’s trading session. The price is above 20 and 50 days EMA, and it can move towards the resistance level of $177.59 if it sustains above the resistance one can further expect a continued bullish trend in the coin till the next resistance zone of $195.35.
Resistance: $177.59, 195.35
Support: $130.70
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
