Litecoin, the silver to Bitcoin’s gold, has been on a wild ride this year. Price has climbed from $4 to $55 in less than a month, and is now hovering around $170 levels as of yesterday. Could this mean that LTC is about to break one of its previous all-time highs?
LTC reached a new high of $170 overnight, but then reversed to trade around $150. In the long term, it’s still in the green, and may hit $200 soon. But a closer look reveals that the dip was deeper than it seemed. One of the factors that drove the price down was a technical indicator, called the 50-day moving average. This is a widely used technical indicator that shows when the price has reached a certain level of support or resistance. LTC is currently trading at $150, and the 50-day moving average has fallen below it. As soon as the moving average fell below $150, the price began a downward slide.
Litecoin’s price broke the $120 barrier last night after having been there for the past few days. In the past 48 hours, the value of Litecoin has risen from $99 to $120, up by about 10 percentage points. While it has been volatile for the most part, the price has remained relatively stable; there have been only two corrections from the daily high and the price has not dropped below the $100 mark in the past three days. Looking at the big picture, this is a very bullish market for Litecoin price and Litecoin is likely to continue to rise over the next few days and weeks, so let’s examine what is happening behind the scenes.. Read more about xrp price prediction february 2021 and let us know what you think.
- Yesterday, LTC continued to rise.
- Overnight, the $170 milestone was achieved.
- Litecoin is gearing up for a new surge.
The Litecoin price analysis for today is positive, as a little pullback was observed early today after a fast advance to the $170 barrier yesterday. Being a result, we believe LTC/USD will continue to rise, with the $180 barrier level as the next objective.
Heat map of cryptocurrencies. Coin360 is the source of this information.
Over the past 24 hours, the cryptocurrency market has been in the green. Bitcoin and Ethereum, the market leaders, are up 1% and 2.8 percent, respectively. With a gain of 6.6 percent, Litecoin is one among the top performers.
In the past 24 hours, the price of Litecoin has tested the $170 barrier.
Over the past 24 hours, LTC/USD has traded in a range of $156.73 – $170.39, showing high volatility. The entire market value of the cryptocurrency is approximately $11.15 billion, putting it in 15th position worldwide. Trading volume has risen by 59 percent to $2.84 billion.
LTC/USD 4-hour chart: Is LTC headed towards $180 resistance?
The Litecoin price movement is stabilizing today on the 4-hour chart, as bulls build strength for another push higher.
4-hour chart of LTC/USD. TradingView is the source of this information.
The price of Litecoin has continued to rise, following a several-week positive trend. LTC/USD has risen more than 60% from the previous big swing bottom at $105, reaching the $170 level.
The last upsurge, which occurred yesterday, resulted in a 15% increase, showing that market momentum is still strong. LTC, on the other hand, experienced a small pullback after hitting $170.
LTC/USD has spent the day stabilizing around $165, indicating that Litecoin will continue to rise over the next 24 hours. The next price goal to keep an eye on is approximately $180, which would represent a 7.5 percent increase over the current price.
Conclusion on the Price of Litecoin
The Litecoin price analysis is optimistic, as bulls have continued to hit new highs in the past 24 hours, reaching $170. Today, LTC/USD witnessed a little pullback and stabilization around $165, indicating that another effort to push higher is likely later today, with the $180 barrier being the next objective.
Read our articles on Bitcoin Futures, Physical Bitcoin, and Proof of Stake versus Proof of Work while you wait for Litecoin to go forward.
Disclaimer. The information given is not intended to be used as trading advice. .com is not responsible for any investments made as a result of the information on this website. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
Litecoin Price Analysis: LTC reaches $170 overnight, pauses before further highs? Litecoin price surged to $172.50 overnight, but the rally stalled. LTC is currently trading at around $155. Litecoin is still among the top 10 cryptocurrencies by market cap but the price has depreciated by around 13%.. Read more about will ripple reach $1 and let us know what you think.
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