Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
- Litecoin started a downside correction from the $95 zone against the US Dollar.
- LTC price is now trading below $90 and the 55 simple moving average (4 hours).
- There was a break below a key bullish trend line with support near $85 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair remains supported for a fresh increase unless there is a clear move below $80.
Litecoin price is correcting gains from $95 against the US Dollar, similar to bitcoin. LTC price could resume its increase if it remains well supported above the $80 level.
Litecoin Price Analysis
In the past few days, there was a decent increase in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC formed a base above the $80 level and started a fresh increase.
There was a clear move above the $85 and $90 resistance levels. The price even climbed above the $92 level and the 55 simple moving average (4 hours). However, the bears were active near the $95 zone. A high was formed near $95.00 and the price started a downside correction.
There was a move below the $90 level. The price traded below the 50% Fib retracement level of the upward move from the $75.32 swing low to the $95.00 high. Besides, there was a break below a key bullish trend line with support near $85 on the 4-hours chart of the LTC/USD pair.
It is now trading below $90 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $85 level.
The next major resistance sits near the $90 level. A clear move above the $90 level could pump the price toward the $95 level. Any more gains might call for a test of $100. Immediate support is near the $82.80 level or the 61.8% Fib retracement level of the upward move from the $75.32 swing low to the $95.00 high.
The next major support is near the $80 zone. A downside break below the $80 support might start a strong decline.
Looking at the chart, Litecoin price is trading below $90 and the 55 simple moving average (4 hours). Overall, the price remains supported for a fresh increase unless there is a clear move below $80.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now gaining pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.
Key Support Levels – $82.80 and $80.00
Key Resistance Levels – $85 and $90.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-bulls-might-protect-80/
- :is
- $3
- $UP
- 28
- 50
- 7
- 80
- a
- above
- active
- against
- analysis
- and
- any
- At
- average
- base
- bearish
- Bears
- below
- besides
- Bitcoin
- Bitcoin News
- Bonus
- Break
- Bullish
- Bulls
- call
- Chart
- clear
- Climbed
- coinbase
- COM
- comments
- could
- data
- Days
- Decline
- Dollar
- downside
- Earlier
- end
- Even
- facing
- few
- First
- follow
- For
- formed
- fresh
- fresh increase
- from
- gaining
- Gains
- get
- High
- HOURS
- However
- HTTPS
- if
- immediate
- in
- Increase
- index
- internal
- IT
- ITS
- Key
- Level
- levels
- Line
- Litecoin
- Litecoin (LTC)
- Litecoin (LTC) Price
- Litecoin price
- live
- Live Bitcoin News
- logo
- Low
- LTC
- ltc price
- LTC/USD
- MACD
- major
- might
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- Post
- price
- Price Analysis
- protect
- pump
- Referral
- referral bonus
- relative strength index
- remains
- Resistance
- resume
- retracement
- Ripple
- rsi
- sign
- similar
- Simple
- sits
- start
- started
- strength
- strong
- support
- support levels
- Supported
- Swing
- TAG
- test
- The
- There.
- to
- toward
- traded
- Trading
- TradingView
- Trend
- Upside
- upward
- us
- US Dollar
- was
- WELL
- were
- with
- Your
- zephyrnet