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- Litecoin Price is currently seeing a halt in the bullish momentum with an intraday gain of 4%
- LTC price is trailing above 50 and 100 Daily Moving Averages. Meanwhile, indicators showcase a bullish move in the upcoming days
Litecoin price is on an uptrend with an intraday gain of 3.74%. LTC price can face hostility while going up at $320. In contrast, a bounceback in Litecoin can be seen from $230. LTC is trailing above 50 and 100 Moving Average.
It has seen a bounceback at 50 MA in the past trading session. After the bounceback, Litecoin has seen a gain of more than 30% within a week.. The LTC/BTC pair is also showing strong bullish momentum with a gain of 8.25%
Litecoin is currently ranked 10th with a market capitalization of $24,076,144,847.The 24-hour trading volume went up by 103%.
Technical Indicators Hints A Bullish Momentum For LTC Price
Litecoin shows a positive momentum on the weekly chart. While coming on to the shorter time frame of 4hrs, it is forming a bullish engulfing pattern. Litecoin price might reach $400 if it jumps above the resistance of $300. If LTC goes down below $250, then one should wait for the price action to do its work. LTC/BTC pair might also see a rise from the current levels.
The volume indicator on the 4hr chart is at 3.75K, highlighting a buy signal with lower strength. It can see a rise in buying if it goes above $300.
RSI (Bullish): It is currently at 59.29, highlighting its presence in the neutral area. There is a positive slope formed in the RSI, showcasing a bullish momentum for the price. The overall sentiment of RSI is positive.
CONCLUSION
Litecoin has given some unexpected returns in the past to its investors. LTC sees a stoppage in the bullish run for a while, but it can again regain its momentum. Investors should do their due diligence before investing.
Technical Levels
Major Support:$230
Major Resistance:$320
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
