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Litecoin Price Analysis: LTC/USD Pair Comes Out of the Oversold Region

Litecoin has enjoyed the bullish experience for a total of 5 days and the value of the currency reached around $69.75 front the value of $67.35. But at the current moment, the value of the currency is under little bearish pressure. The hourly break down of the currency display that pair of LTC/USD has been hovering between the values of $66.85 and $67.60 on Tuesday in its the first half. Then the value increased up to $69.50.

This value is just before the value of the currency reached up to $69.50 and the currency also meet up with the resistance level but unfortunately decreased up to $68.75. Later bulls made the value again reached up to $70.70 and breakout the barrier of $70. This ultimately corrected the position of LTC/USD pair at the value of $69.75.

The daily chart of the LTC/USD pair: Currently the value of the pair of LTC/USD is below the 200-day SMA, 50-day SMA and 20-day SMA. The pair broke overhead the downtrend line. The SMA of 20-days is in the action as the sudden resistance value in the market. The MACD also displays the enhancing bullish momentum and there is the two straight bullish movement session on the Elliott Oscillator. The RSI is also increased above the region of oversold and is trending around the value of 40.60

Litecoin Resistance Level – $72.28

Litecoin Support Level – $66

Litecoin Price Analysis 4th September: Currently, the value of the Litecoin is trading at the value of $67.54 and its value is decreasing by -0.03%. The market capitalization of the currency is $4,267,040,721 and the 24-hour volume of the currency is $2,873,948,076. The circulating supply of the currency is 63,180,062 LTC and the ROI of the Litecoin is 1,470.71%.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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