Litecoin Price Analysis: LTC Reaching Final Supply Zone of $240

Litecoin price climb its new 52-week high
  • Litecoin hits the new 52-week of $208 and now heading towards the supply zone which could be considered retracement zone
  • The pair of LTC/BTC is trading above the 20,50 and 100-DMA, while 200-DMA (0.004026BTC) is still considered as resistance levels
  • LTC/BTC is trading at 0.004261 BTC with an intraday gain of +2.02%
Source:tradingview

Litecoin(LTC) rally over the yearly chart has reached near the supply zone of $220-$250. LTC performs well with the overall bullish momentum in cryptomarket, leading to a new 52-week high level of $208 recorded on 8th February 2021. Presently it is trading above the major moving averages of 20,50,100 and 200-Day; however, the breakout above the resistance zone can lead LTC to $280 and $330. 

Source:tradingview

Litecoin (LTC) price over the weekly chart is trading in the rising channel pattern, which indicates its bullish momentum. The formation of higher highs and lower lows supports bulls; meanwhile, presently, Litecoin is trading at $202 with intraday gains of +7.33%. Volume recorded in the last 24-hour period jumped over +40.46% standing at $13,902,506,386, likewise total market capitalization reached over $13,470,855,444 with intraday gain of +7.71%. The support on the lower side is situated at $140 and $120. Similarly, resistance on the higher side is placed at $220 and $250.   

- Advertisement -

Relative Strength Index (Bullish) indicates a bullish Momentum while trading at 66.73. However, it is again heading towards an overbought zone after correcting from higher levels, indicating its bullish momentum.

Moving Average Convergence Divergence (Bullish) currently indicates a bullish trend on the daily chart as is trading with the significance of the Buyer’s line (green) over the seller’s signal line (red).   

Support levels: $140 and $120

Resistance levels: $220 and $250. 

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners