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Litecoin price evaluation right this moment is bullish as the value of LTC has rallied to $54.04 after breaking out from a descending channel. The cryptocurrency had been buying and selling inside this channel since early right this moment. The worth is at present going through resistance at $54.12 and has discovered help at $52.20. If the bulls can push the value above $54.12, Litecoin would possibly goal the subsequent degree of resistance at $55.40. Nonetheless, if the bears take management, Litecoin would possibly drop to $51.50.
The LTC/USD pair has elevated by 0.81 p.c since yesterday, and it’s at present buying and selling at $54.04. The worth had been consolidating beneath the $53 degree after yesterday’s bearish shut. Nonetheless, the bulls managed to push the value above the $54 degree right this moment and ignite a bullish rally that drove the value to $54.04.The Market capitalization of the coin at present stands at $3.46 billion, and the 24-hour buying and selling quantity is $388 million.
LTC/USD value evaluation on a every day timeframe: Bulls proceed pushing LTC costs increased
The every day timeframe for the Litecoin price evaluation reveals that the value had been buying and selling in ascending parallel channels for the final 24 hours. Nonetheless, the value broke out from this channel yesterday and fell to $52.20 right this moment. The worth has discovered help at this degree and is at present trying to rally again into the channel.
The MACD indicator reveals that the bullish momentum is shedding steam because the MACD line is about to cross beneath the sign line. Nonetheless, a crossover won’t occur because the MACD line may be very near the sign line. The RSI indicator reveals that the RSI is at present close to the 50 degree, which signifies that the market is neither overbought nor oversold. The higher and decrease Bollinger Bands present that the value is at present buying and selling close to the higher band, which signifies that the bulls are accountable for the market.
LTC/USD value evaluation on an hourly timeframe: LTC costs rally to $54.04
The hourly timeframe for the LTC/USD pair reveals that Litecoin had been buying and selling between the $52.20 and $53.60 ranges for the previous couple of hours earlier than it lastly broke out to the upside and rallied to $54.04. The bears are at present trying to push the value again beneath the $54 degree however haven’t been profitable to this point.
The MACD indicator on the 4-hour timeframe reveals the sign line is near crossing beneath the MACD line, which signifies that the bullish momentum is shedding steam. The RSI indicator reveals that the RSI is at present beneath the 50 degree, which signifies that the market is at present bearish. The higher Bollinger band is at present at $55.33, whereas the decrease Bollinger band is at $52.70.
Litecoin value evaluation conclusion
To conclude, Litecoin value evaluation is in a bullish pattern as the value has been in an ascending channel for the previous couple of hours. The bulls are at present trying to push the value above $54.12, however they may face some resistance at this degree. The technical indicator evaluation on the hourly timeframe reveals that the market is bearish however shedding momentum. Nonetheless, on the 4-hour timeframe, the indicator evaluation reveals that the market is in a bullish pattern and would possibly proceed to rise within the close to future.
Disclaimer. The data offered isn't buying and selling recommendation. Cryptopolitan.com holds no legal responsibility for any investments made based mostly on the data offered on this web page. We strongly advocate impartial analysis and/or session with a professional skilled earlier than making any funding selections
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