Charted: Litecoin Price Daily Timeframe Indicates Strong Uptrend To $65

2020-10-22 10:28

Litecoin started a strong upward move from the $41.50 support zone against the US Dollar. The price is now trading nicely above the $50.00 level and the 100-day simple moving average. There was a break above a crucial bearish trend line with resistance near $48.90 on the daily chart of the LTC/USD pair (data feed from Kraken). The bulls seem to be aiming a larger upward move towards the $60.00 and $65.00 levels.

Litecoin price is gaining momentum above $55.00 against the US Dollar. LTC is likely to continue higher towards $60.00 or $65.00 as long as it is above the 100-day SMA.

Litecoin Price is Forming Strong Uptrend

Recently, the crypto market gained traction, and there was a strong increase in bitcoin, Ethereum, ripple and litecoin against the US Dollar. Earlier, LTC formed a strong support above the $41.50 on the daily timeframe before staring the current increase.

There was a clear break above the $48.00 and $50.00 resistance levels. There was also a break above a crucial bearish trend line with resistance near $48.90 on the daily chart of the LTC/USD pair

It opened the doors for more upsides above the $52.00 level and the 100-day simple moving average. Litecoin even climbed above the $55.00 level, and it is now testing the 50% Fib retracement level of the downward move from the $69.02 high to $41.68 low.

Source: LTCUSD on TradingView.com

The next major resistance is near the $58.80 level. It is close to the 61.8% Fib retracement level of the downward move from the $69.02 high to $41.68 low. The next key resistance is near the $60.00 level, above which the price is likely to surge towards the $65.00 and $68.00 levels in the near term.

Dips Likely Supported in LTC

If litecoin fails to continue above the $56.00 resistance or the $58.80 zone, there are chances of a downside correction. On the downside, the first major support is near the $52.00 level.

The main support is now forming near the $50.00 level and the 100-day simple moving average. Any further losses might change the trend and the price might dive towards $45.00 or even $41.50 in the coming days.

Technical indicators:

4-hours MACD – The MACD is showing positive signs in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently rising and it is well above the 60 level.

Major Support Levels – $52.00 followed by $50.00.

Major Resistance Levels – $58.80 and $60.00.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Litecoin (LTC) на Currencies.ru

$ 89.76 (-0.10%)
Объем 24H $1.255b
Изменеия 24h: 3.29 %, 7d: 11.31 %
Cегодня L: $82.16 - H: $90.8
Капитализация $6.752b Rank 22
Цена в час новости $ 54.98 (63.26%)

above daily price litecoin trend line bearish

Источник: newsbtc.com

above daily → Результатов: 126


Фото:

Bitcoin Has Reached a “Critical Juncture” as Analysts Set Sights on $11,800

Bitcoin’s price has seen a strong rebound from yesterday’s lows, with buyers ardently guarding against a dip into the sub-$11,000 region This has allowed the cryptocurrency to gain some slight momentum, although it remains down from its daily highs From a technical perspective, analysts are noting that Bitcoin is now at a “critical juncture” that will determine its near-term future One trader is setting his sights on a break above $11,800, explaining that sellers will […]

2020-8-29 21:00


Фото:

Bitcoin is Poised to Push Towards $14,000 After Posting Bullish Weekly Close

Bitcoin has continued consolidating within the upper-$11,000 region overnight This extended period of sideways trading has come about despite it facing multiple recent rejections at $12,000 Its inability to break above this level has so far not led it to see any notable near-term downside, with $11,700 becoming a strong level of support This support level was previously a crucial resistance that it was struggling to close above Yesterday marked the first daily – and […]

2020-8-18 21:00


Bitcoin Prone to Seeing Downside as It Trades Below Key Level

Bitcoin and the aggregated crypto market are struggling to extend the mid-term uptrend that has driven them higher over the past few weeks This has come about as BTC pushes up against insurmountable resistance at $12,000 – a level that it has been rejected at on multiple occasions Analysts are now noting that it may require a daily close above $11,900 for it to see further upside that sends it past this price level There […]

2020-8-14 02:00


Bitcoin is Pushing Against a Crucial Level as Chances of an Explosive Rally Grow

Bitcoin and the entire crypto market saw a strong afternoon yesterday. This allowed BTC to push up towards $11,800 The cryptocurrency is now caught within what will likely be a short-term consolidation phase at just under $12,000 Whether or not it can surmount this crucial resistance today will help offer insights into its short-term outlook One analyst explained in a recent tweet that yesterday’s daily close does seem to indicate that a break above this […]

2020-8-7 21:00


Фото:

Bitcoin is Flashing Signs of Weakness as It Trades Below Crucial Level

After another failed breakout attempt, Bitcoin is once again hovering just above its crucial $9,200 support The entire crypto market is currently expressing some signs of weakness This weakness may be rooted in BTC’s decline beneath what one analyst is describing as a crucial level He notes that a daily close beneath $9,230 would make a compelling case that further downside is imminent This comes as multiple technical indicators all point to an imminent surge […]

2020-7-15 02:00


Фото:

Ethereum Bulls Defend Crucial Support, But Outlook Remains Gloomy

Despite navigating down towards its crucial support at $220, Ethereum’s buyers were able to defend against a break below this level The cryptocurrency now appears to be well-positioned to maintain above this level in the near-term, as buyers are currently ardently defending another crucial support level That being said, on its daily chart the cryptocurrency does appear to be flashing some signs of overt weakness One group of analysts recently noted that the recent break […]

2020-7-2 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Litecoin Records Highest Volume Since May 2023, Bullish Sign?

On-chain data shows Litecoin has recently recorded its highest weekly volume since May 2023. Here’s what this could mean for the asset’s price. Litecoin Transaction Volume Has Been Rising Recently In a new post on X, Jay Milla, the director of marketing at Litecoin Foundation, has pointed out that the LTC network has witnessed a […]

Crypto Analyst Puts Litecoin Price At $84, Here’s The Timeline

Since its third halving event was successfully completed in early August, the Litecoin price has fallen off the radar of crypto investors. This was mainly due to the price decline that LTC experienced after heavy profit-taking from investors who had invested leading up to the price surge triggered by the expectations around the halving.