- Litecoin worth is up near 10% and it broke the $45.50 resistance space in opposition to the US Greenback.
- LTC worth traded as excessive as $50.95 and it’s at present consolidating good points.
- There’s a key bullish development line forming with help close to $46.20 on the 4-hours chart of the LTC/USD pair (knowledge feed from Coinbase).
- The pair stays effectively supported on the draw back for extra upsides above $50.00 and $52.00.
Litecoin worth is gaining bullish momentum above key hurdles in opposition to the US Greenback, just like bitcoin. LTC worth is more likely to proceed increased above the $52.00 stage within the close to time period.
Litecoin Value Evaluation
Prior to now few classes, there was a powerful improve in bitcoin, Ethereum, ripple, and litecoin in opposition to the US Greenback. LTC worth shaped a powerful help base above the $40.00 stage and not too long ago surged above the $45.50 resistance.
The bulls gained energy above $46.50 and the worth settled effectively above the 55 easy shifting common (4-hours). The upward transfer was such that the worth climbed above the $50.00 hurdle.
A brand new month-to-month excessive is shaped close to $50.95 and the worth is at present consolidating good points. An preliminary help on the draw back is close to the $49.20 and $49.00 ranges. The 23.6% Fib retracement stage of the latest rally from the $43.24 low to $50.95 excessive can also be close to the $49.13 stage to supply help.
If there are extra downsides, the worth may decline in direction of the $48.00 and $47.10 help ranges. Furthermore, there’s a key bullish development line forming with help close to $46.20 on the 4-hours chart of the LTC/USD pair.
The development line is near the 50% Fib retracement stage of the latest rally from the $43.24 low to $50.95 excessive. Due to this fact, litecoin worth stays effectively supported on the draw back close to $49.00 and $48.00.
On the upside, the $50.50 and $51.00 ranges are preliminary hurdles, adopted by $52.00. If the worth climbs above the $52.00 resistance, there are excessive possibilities of a run in direction of the $55.00 barrier within the close to time period. Any additional good points may lead the worth in direction of $58.00.
Litecoin Value
Trying on the chart, litecoin worth is clearly buying and selling in a powerful uptrend above $49.00 and $48.00. It’s more likely to proceed increased above $50.00 and $52.00 except the bulls fail to defend the $47.10 help.
Technical indicators
Four hours MACD – The MACD for LTC/USD is slowly dropping momentum within the bullish zone.
Four hours RSI (Relative Energy Index) – The RSI for LTC/USD is now correcting decrease from the 80 stage.
Key Assist Ranges – $49.00 and $47.10.
Key Resistance Ranges – $52.00 and $55.00.
