Litecoin (LTC) Price Analysis: Another 10% Increase Seems Likely | Live Bitcoin News

• Litecoin started a steady increase above $72.00 against the US Dollar.
• LTC price is now trading above $72.00 and the 55 simple moving average (4 hours).
• There is a key bullish trend line forming with support near $70.10 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
• The pair could gain bullish momentum if it clears the $74.80 and $75.00 resistance levels.

Litecoin price is recovering from the $68.00 zone against the US Dollar, like Bitcoin. LTC price could climb again if there is a clear move above $75.00.

Litecoin Price Analysis

In the past few sessions, there was a decent increase in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. However, LTC struggled to clear the $76.80 resistance zone and started a fresh decline.

There was a move below the $75.00 and $72.00 support levels. Finally, the bulls protected the key support at $68.00. A low is formed near $68.02 and the price is now attempting a fresh increase. The price started a recovery wave above the $70.00 and $72.00 levels.

It broke the 50% Fib retracement level of the downward move from the $76.85 swing high to the $68.02 low. Litecoin is now trading above $72.00 and the 55 simple moving average (4 hours).

On the upside, the price is facing resistance near the $74.80 level. It is near the 76.4% Fib retracement level of the downward move from the $76.85 swing high to the $68.02 low. The first major resistance is near the $75.00 level. A clear move above the $75.00 level could push the price toward the $76.80 zone.

The next major resistance sits near the $78.50 level. Any more gains might send the price toward the $80 level. On the downside, initial support is near the $72.50 level. The next major support is near the $71.40 level.

There is also a key bullish trend line forming with support near $70.10 on the 4-hour chart of the LTC/USD pair. If there is a downside break below the $70.00 support, the price could accelerate lower toward the $65.00 level in the near term.

Looking at the chart, Litecoin’s price is trading above $72.00 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $74.80 and $75.00 resistance levels.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now gaining pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now above the 50 level.

Key Support Levels – $72.40 and $71.30.

Key Resistance Levels – $74.80 and $75.00.

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• Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-another-10-increase-seems-likely/