The Litecoin price analysis is showing signs of bullish activity as the price has increased considerably in the last 24 hours. The price has been uplifted to $89.24 as a result of the bullish pressure and is expected to upgrade even more. The past week has been relatively favorable for the bearish as the downtrend remained constant, however, the bulls seem to have taken control of the market and in turn, pushed the price up.
The price is still following the bullish movement and might as well follow new heights in the coming days. The resistance for today has been set at $89.68, but it is expected to breach if the bullish pressure continues. On the other hand, support is present at $86.39 in case there is any pullback or sudden change of trend.
Litecoin price analysis 1-day chart: Bulls carry price to $89.24 after countering bearish momentum
The one-day chart for Litecoin price analysis is displaying promising results, as the price has undergone improvement today as well. The past few days proved extremely successful for the bears as the price decreased considerably. However Today, the trend has been reversed and the bulls have taken control.
The volatility has increased today which is a good sign for the market. The Bollinger bands have widened, with the upper Bollinger band at $101.30 and the lower Bollinger band at $83.56. The Relative Strength Index (RSI) for Litecoin analysis is also positive, with a reading of 46.94 which signifies that the Bulls have won the battle against the Bears. The moving average indicator is present at $90.95, which supports the current bullish movement.
Litecoin price analysis: LTC glides swiftly toward the next approaching target
The bulls have been ruling the four hours Litecoin price chart as the price has increased tremendously during the past few hours. The price is currently present at $89.24 position and it is expected that it will soon find a new height. As the bullish momentum has been at its peak, the price has been able to break past the $89.68 resistance as well.
Furthermore, the moving average (MA) indicator is showing its value at the $87.95 level. The volatility has been increasing again which is why certain variations in the price movement can be expected. The Bollinger Bands Indicator in the 4-hour price chart is also widening which may signal a new high. The RSI indicator is present at 54.92, which indicates that the bulls will continue to control the market.
Litecoin price analysis conclusion
Overall, Litecoin price analysis shows that bulls have taken control of the market and are currently pushing the price up toward higher levels in anticipation of better prices ahead. There might be certain pullbacks due to the market volatility, however, the bulls are likely to continue driving the price upwards.
