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- Litecoin price prediction suggests the massive recovery of LTC crypto from the long term consolidation phase.
- LTC crypto is trying to sustain towards the $75.00 mark and is still looking for some sustainability above the previous range.
- The pair of LTC/BTC is at 0.003353 BTC with an intraday gain of 2.82%.
Bulls have frequently struggled to hold gains at the phase’s threshold when Litecoin price has tried to depart the consolidation phase. Positive LTC user feedback indicates that people are presently focusing on demonstrating how the token differs from the horizontal range. However, the price of the token has always been between $40.00 and $65.00. In a strong upswing, the price of LTC is currently rising into the top range of the consolidation period. LTC bulls must maintain their position above the trendline in order to keep the token above the caged zone. As of this writing, the LTC cryptocurrency appears to be struggling to maintain above the price chart’s daily consolidation phase.
Litecoin’s CMP price is currently $69.44, and over the last day, it has lost 0.32 percent of its market value. However, trading volume increased by 34.93% during the intraday trading session. Bulls must advance since they have a small stockpile in order to keep the LTC coin’s price rising steadily.
LTC’s price is rising as it gets closer to the consolidation phase’s upper trendline, as seen on the daily price chart. Bulls must assemble at LTC to see the breakout of the cryptocurrency. However, because volume shows that the rate of accumulation is limited, bears could halt the LTC coin’s upward momentum at any point. For LTC bulls to avoid slipping into any bearish traps, they must accumulate swiftly.
Will LTC Bulls Sustain or Get Detained?
The LTC coin price is striving to hold at the current level above the consolidation period on the daily chart. The rate of the LTC currency’s recovery is supported by technical indicators.
The relative strength indicator shows the upward rise of the LTC price. The RSI is seeking stability at 76, which is inside the overbought zone. The LTC currency’s rising velocity is shown by the MACD. After a positive crossover, the MACD line is ahead of the signal line. Investors in LTC must keep an eye on the daily chart for any changes in trend.
Conclusion
Bulls have frequently struggled to hold gains at the phase’s threshold when Litecoin price has tried to depart the consolidation phase. Positive LTC user feedback indicates that people are presently focusing on demonstrating how the token differs from the horizontal range. The rate of the LTC currency’s recovery is supported by technical indicators. Investors in LTC must keep an eye on the daily chart for any changes in trend.
Technical Levels
Support Levels: $65.00 and $55.00
Resistance Levels: $75.00 and $80.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
