Litecoin price analysis is bullish today as the market is seeing a strong influx of buyers. The price has risen from $92.30 to $92.35 in the past 24 hours, which marks a 14% increase. The bulls have taken control of the market, driving prices higher. Therefore, resistance for LTC/USD is now seen at $93.85, with a break above this level likely to open the door for further gains. Additionally, if LTC/USD holds the current levels and consolidates, then we could see another leg higher. On the other hand, if the bulls fail to hold prices and LTC/USD slips below $89.43, then we could see a further pullback.
Litecoin price analysis 1-day chart
The 1-day Litecoin price analysis shows a strong bullish run in the market. The graph demonstrates that the bulls have taken control of the market, driving prices to higher levels. The market volatility is making LTC prices more susceptible to extreme swings in either direction. The upper limit of Bollinger’s band is present at $97.245, which serves as a resistance point for LTC. Conversely, the lower limit of Bollinger’s band is currently at $876.4196, which serves as another support point for LTC.
LTC/USD 1-day price chart, Source: TradingView
The moving average convergence divergence (MACD) is also in bullish territory, indicating that further gains could be in the cards. Additionally, the relative strength index (RSI) is also trending upwards, indicating that the market momentum is with the bulls.
LTC/USD 4-hour price chart: Bullish momentum spikes at $92.35
Looking at the 4-hour price chart for Litecoin also indicates a strong bullish trend. The pair is trading above the $89.43 support level and is now targeting the $93.85 resistance. A break above this level could see LTC/USD rally past $92.40. On the downside, if the buyers lose control of the market and LTC/USD dips below $89.43, then we could see a re-test of the $89.40 support.
LTC/USD 4-hour price chart, Source: TradingView
The relative strength index (RSI) is also trending upwards which is currently at 58, indicating that the bulls are in control of the market. The MACD is also positive and continues to signal a bullish trend for Litecoin. The Bollinger Band is also indicating a strong bullish trend as the upper band has been breached and is currently around $94.121 and the lower band is currently at $87.208.
Litecoin price analysis conclusion
Overall, the Litecoin market is looking very strong at the moment and is likely to continue its bullish trend in the near future. Investors should look for entry points above the $92.35 level and target the $93.85 resistance to maximize their profits.
