Home Litecoin Litecoin worth evaluation: Bullish rally drives LTC costs to $54.04 – Cryptopolitan

Litecoin worth evaluation: Bullish rally drives LTC costs to $54.04 – Cryptopolitan

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Litecoin price evaluation in the present day 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 in the present day. The value is at the moment dealing with resistance at $54.12 and has discovered assist at $52.20. If the bulls can push the value above $54.12, Litecoin may goal the subsequent stage of resistance at $55.40. Nonetheless, if the bears take management, Litecoin may drop to $51.50.

The LTC/USD pair has elevated by 0.81 p.c since yesterday, and it’s at the moment buying and selling at $54.04. The value had been consolidating under the $53 stage after yesterday’s bearish shut. Nonetheless, the bulls managed to push the value above the $54 stage in the present day and ignite a bullish rally that drove the value to $54.04.The Market capitalization of the coin at the moment stands at $3.46 billion, and the 24-hour buying and selling quantity is $388 million.

LTC/USD worth evaluation on a each day timeframe: Bulls proceed pushing LTC costs increased

The each 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 in the present day. The value has discovered assist at this stage and is at the moment making an attempt to rally again into the channel.

LTC/USD 1-day worth chart, Supply: TradingView

The MACD indicator reveals that the bullish momentum is shedding steam because the MACD line is about to cross under the sign line. Nonetheless, a crossover may not occur because the MACD line could be very near the sign line. The RSI indicator reveals that the RSI is at the moment close to the 50 stage, which signifies that the market is neither overbought nor oversold. The higher and decrease Bollinger Bands present that the value is at the moment buying and selling close to the higher band, which signifies that the bulls are answerable for the market.

LTC/USD worth 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 few hours earlier than it lastly broke out to the upside and rallied to $54.04. The bears are at the moment making an attempt to push the value again under the $54 stage however haven’t been profitable thus far.

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LTC/USD 4-hour worth chart, Supply: TradingView

The MACD indicator on the 4-hour timeframe reveals the sign line is near crossing under the MACD line, which signifies that the bullish momentum is shedding steam. The RSI indicator reveals that the RSI is at the moment under the 50 stage, which signifies that the market is at the moment bearish. The higher Bollinger band is at the moment at $55.33, whereas the decrease Bollinger band is at $52.70.

Litecoin worth evaluation conclusion

To conclude, Litecoin worth evaluation is in a bullish pattern as the value has been in an ascending channel for the previous few hours. The bulls are at the moment making an attempt to push the value above $54.12, however they could face some resistance at this stage. 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 may proceed to rise within the close to future.

Disclaimer. The knowledge offered is just not buying and selling recommendation. Cryptopolitan.com holds no legal responsibility for any investments made primarily based on the knowledge offered on this web page. We strongly advocate impartial analysis and/or session with a certified skilled earlier than making any funding choices

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