Litecoin Price Forecast: LTC Gives Pullback What’s Next?

LTC bounced back from the support of $172.73
  • Litecoin price forecasts uptrend from $172.73 to $179.70 on Friday’s trading session
  • The 24-hour volume in LTC is at $3,415,822,406 with a 6.95% decrease
  • The LTC/BTC pair was trading at 0.003401 BTC with a gain of 1.91%

The 4-hour technical chart of Litecoin price action forecasts an uptrend. According to pivot points, LTC’s critical support level is placed at $172.73. Whereas if it moves up, the key resistance level to watch is $228.77. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern which represents bulls are in control.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below the SMA-50 (white), which projects a bearish trend. The price is also below SMA-100 (yellow). Investors may perceive a negative crossover in the SMA, and the price will also follow the negative trend for a short while.

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RSI indicator (BEARISH), with a value of 44, indicates a sell signal in the coin for a short while. Moreover, Investors can see an upward slope from 25 to 44 in the index, and it may soar in future trading sessions.

Buying Pressure May Surge The Litecoin Price 

Litecoin price traded at $179.70 with a gain of 6.0% in the last 24-hour and 12.69% down in the weekly time-frame. Furthermore, LTC bounced back from the support of $172.73. In contrast, the market capitalization stands at $11.82 billion. Technically, investors can perceive a negative crossover in SMA for a short while. Moreover, the price movement can be towards the resistance of $228.77.

Resistance: $228.77

Support: $172.73

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Nikhil Ingole
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. 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.

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