Litecoin (LTC) Rebounds Above $54 Support, Attempts to Breach $60 and $65 Resistances

Updated:

Key Highlights
Litecoin next target price will be at the $68 high
Litecoin will first battle the resistances at level $60 and $65

Litecoin (LTC) Current Statistics
The current price: $57.07
Market Capitalization: $3,722,950,511
Trading Volume: $2,867,196,519
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10

Litecoin (LTC) Price Analysis August 14, 2020
Today, Litecoin rebounded above $54 but it is currently facing resistance at $58 high. Since its breakdown on August 2 , LTC has been struggling to break above the $60 high. Buyers have tested the resistance on three occasions but unable to break it. For over a week, the bulls and bears have been tussling for price possession between the levels of $56 and $60. About 48 hours the bears pushed price to $54 low while the bulls buy the dips to push LTC to the middle of price range.

Today, neither the bulls nor bears have the upper hand. LTC is now in the middle of price range. On the upside, a strong bounce above $56 support will propel price to break the $60 resistance. The price movement will be accelerated upward to retest the $65 overhead resistance. If buyers fail to break the current resistance the market will continue to be range-bound.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is recovering after breaking the support line of the ascending channel. The price bars are above the EMAs which indicates a further upward move. LTC is above 25% range of the daily stochastic. It indicates that it is in a bullish momentum.

LTC/USD – Daily Chart

Conclusion
Litecoin is rising as it fell to the support of the 12-day EMAs. A large candle body tested the 0.786 Fibonacci retracement level. It indicates that the market will reach level 1.272 Fibonacci extension level. At 1.272 extension, LTC will reverse and return to 0.786 retracement level where it originated. For now, the market will be reaching a high of $68.


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Litecoin (LTC) Faces Continuous Rejection, Resumes Consolidation

Updated:

Key Highlights
Litecoin bulls continue its consolidation between $56 and $60
The crypto has a target price of $76.

Litecoin (LTC) Current Statistics
The current price: $57.85
Market Capitalization: $3,772,892,415
Trading Volume: $2,589,546,782
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10

Litecoin (LTC) Price Analysis August 11, 2020
Today, LTC faces rejection at the $60 resistance as the market continues consolidation below the resistance. Since the last bearish impulse on August 2, LTC has been range-bound between levels $56 and $60. The bulls and bears are in serious price tussle for over a week within the confined range. Incidentally, this price tussle will lead to a breakout or a breakdown.

Nonetheless, the bulls have an added advantage over the bears as the coin is in a bull market. On the upside, a break above $60 resistance will propel price to retest the resistance at $65. Subsequently, if the price breaks the $65 high, the uptrend will resume to a high of $80. Conversely, if the bulls fail to break the resistance, LTC will be in a sideways trend. It is unlikely if price will resume a downward move.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin is currently trading at level 61 of the Relative Strength Index period 14. It indicates that LTC is in the bullish trend zone. The coin is also above the centerline 50 and likely to rise. The 21-day and 50-day SMAs are sloping upward indicating the upward move.

LTC/USD – Daily Chart

Conclusion
Litecoin has another chance of upward move despite the resistance at $60. During the last bullish impulse on August 1, a large red candle body tested the 0.382 Fibonacci retracement level. This retracement level gives the impression that the market will rise to a 2.618 Fibonacci extension level. In other words, the market will rise to $76 high.



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Litecoin (LTC) Is in a Deadlock, Trapped Below $60 High

Updated:

Key Highlights
Litecoin bulls battle the resistance at $60
The coin will reach its price at $65 if the resistance is breached

Litecoin (LTC) Current Statistics
The current price: $59.70
Market Capitalization: $3,891,374,129
Trading Volume: $2,319,180,382
Major supply zones: $70, $80, $90
Major demand zones: $50, $30, $10

Litecoin (LTC) Price Analysis August 7, 2020
Litecoin is in a sideways move below the $60 resistance. The sideways move becomes necessary because the bulls fail to push LTC above the $60 resistance. Buyers have made five attempts to break the current resistance but to no avail. The bottom line is that once buyers break the current resistance, LTC will achieve price acceleration on the upside.

The market will rise to $80 high if the bulls break the $65 resistance. However, the current sideways move will persist if the resistance remains unbroken. The bears may take advantage to break the support level at $56 if the sideways move continued. A break below the $56 support will push the coin $51 low.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
One significant indicator is the exponential moving average. As long as price is above the EMAs, the coin will continue to rise. It is when price is below the EMAs, the downtrend will resume. The crypto is at level 67 of the Relative Strength Period 14. The coin is in the bullish trend zone and above the centerline 50.

LTC/USD – 45 Mins Chart

Conclusion
Litecoin is still trading below the resistance at $60. The market will only trend when price break the resistance level. Meanwhile, a red candle body tested the 0.382 Fibonacci retracement level. When uptrend resumes, LTC will rise and reach its first target at level 2.618 Fibonacci extension level. That is, to say the high of $65.


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Litecoin (LTC) Struggles Below $46 Resistance Amidst Bullish Expectation

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bullish
Today, buyers are retesting the $46 high which is now a minor resistance. About 48 hours ago, the bulls were resisted as they attempt to move upward. Buyers are still finding penetration difficult at the resistance. However, if the selling pressure persists, the coin will fall and find support at $43 low. On the other hand, if the bulls break above the minor resistance, LTC will rise and retest the $50 resistance. However, the bears may mount up pressure against the upward move.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
Litecoin will resume uptrend if the bulls break above the support line of the ascending channel.The 21-day SMA and 50-day are sloping upward indicating an uptrend. LTC is at level 54 of the Relative Strength Index period 14. The coin is in the uptrend and the bulls are in control.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, the market is indicating the downtrend of Litecoin. Since the downward move from the high of $50, the bulls are yet to break the downtrend line. On the upside, if the bulls break the downtrend line and close above it, it will signal the resumption of the uptrend.

LTC?USD -4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping downward. LTC is above 60% range of the daily stochastic. The market is said to be in a bullish momentum. We expect LTC to move up but it is currently facing minor resistance.

General Outlook for LTC
Litecoin’s upward move is currently facing resistance $46 high. The bulls have been repelled twice at the resistance. Litecoin will rise to $48 and price will extend to $50 if the bulls break above the minor resistance. Failure of the bulls will compel LTC to a sideways move.


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Litecoin (LTC) Plummets to $39 Low, Holds Above $42 Support

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
After three unsuccessful attempts to break the $50 overhead resistance, LTC suffers another setback. The market has been falling above $46 support after each resistance. The recent breakdown breaches the support levels of $46 and $44 to reach $39 low. The bulls made a downward correction above $42 and resumed consolidation above it. Nonetheless, with the recent fall, the coin is in the bearish trend zone. A further downward move is likely.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day are sloping downward indicating a downtrend. LTC is at level 43 of the Relative Strength Index period 14. The coin is in the downtrend and it is likely to fall.

LTC/USD Medium-term Trend: Bearish
On the 4 hour chart, the bulls fail to break the horizontal line, propelling the bears to take advantage. Presently, price fell above $42 and resume consolidation.

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping downward. LTC is above 80% range of the daily stochastic. The market is said to be in the overbought region. We expect sellers to emerge to push prices downward.

LTC/USD – 4 Hour Chart

General Outlook for LTC
Litecoin is on a downward move. The stochastic is already showing overbought condition. The implication is that LTC is likely to fall. The upward move is unlikely at the moment. The price action is also showing bearish signal.

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Litecoin (LTC) Continues Uptrend as Bulls Aggressively Defend Support

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bullish
Yesterday, LTC dropped to $45 low and resumed upward move. The coin has previously rebounded above $44 low which propelled it to reach a high of $50. Unfortunately, the coin was overbought at $50 which resulted in the emergence of sellers. The crypto was in a downward move but has resumed uptrend above $46 support . LTC is in a sideways trend below $50 resistance.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day are sloping upward indicating upward move. Litecoin is at level 55 of the Relative Strength Index. The crypto is in the uptrend zone and above the centerline 50. Litecoin is likely to rise but may face resistance at $47.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, Litecoin is in an ascending channel. The price is making a series of higher highs and higher lows. The price tested $50 resistance as it dropped to $46 support. The market is rising above the $46 support.

LTC/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping upward indicating the upward move. LTC is above 40% range of the daily stochastic. It implies that the price is in a bullish momentum. LTC will resume a downward move if the market falls below the support line.

General Outlook for LTC
Litecoin is currently above $46 support level. On the upside, if the bulls defend the current support, the market is likely to rise to retest the $50 resistance. On the downside, if the bears break below $46, LTC will drop to $43 low. In the meantime, the crypto is consolidating above $46 support.

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Litecoin (LTC) Resumes Uptrend, Attempts to Break $47 Resistance

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bullish
Yesterday, LTC rebounded as it attempts to break the $47 resistance. The bulls have earlier broken $43 resistance and resumed its upward move. As price approaches the resistance at $47, LTC is likely to face another resistance at $50. On the upside, if price bounces at the $46 support, there is a likelihood of breaking through the $47 and $50 resistances. LTC will rally to $60 resistance if the bulls are successful. Conversely, if the bulls fail to break the initial resistance, the market will fall to $43 low.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping upward. The crypto is at level 60 of the Relative Strength index. It indicates that it is in the uptrend zone and above the centerline 50. Litecoin is likely to rise.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, Litecoin is in an upward move but in a sideways trend below the $47 resistance. The bulls are attempting to break the overhead resistance. LTC will be out of the downtrend if the bulls break the resistances of $47 and $50. The momentum will extend to a $60 price level.

LTC/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping horizontally indicating the sideways move. LTC is above 80% range of the daily stochastic. It implies that price is approaching the overbought region. In the same vein, sellers will emerge to push prices down.

General Outlook for LTC
The bulls have broken the $43 resistance and are attempting to break the $47 resistance. On the downside, if sellers emerge, the bulls will be unable to break the resistance levels. On the upside, if the trend does not regard the overbought conditions, price is likely to break the resistance as price rally to $60 resistance.

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Litecoin (LTC) Consolidates Above $40 Support, Lacks Buying at Higher Levels

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
Litecoin is trading at $40.58 which is above the previous range bound zone of $36 and $40.The bull’s upward move has been restricted below $43 resistance. Buyers have earlier been repelled at the $47 resistance when the coin was overbought. After the resistance at $47, the market has been trading between $40 and $43.On the upside, a rebound at the low of $40 will propel LTC to break through the resistances of $43 and $47. On the downside, a break below $40 will sink LTC to the low of $35.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA is acting as a support for Litecoin. The crypto is at level 45 of the Relative Strength index. It indicates that it is in the downtrend zone and below the centerline 50. The market may fall below the EMAs.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, Litecoin is in an upward move. Presently, the upward move has been hampered because of the resistance at $43. The market is in a sideways move below the $43 resistance. The market is making an upward move because of the emergence of buyers in the oversold region.

LTC/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping horizontally indicating the sideways move. LTC is above 25% range of the daily stochastic. The pair is in a bullish momentum as buyers emerge from the oversold region.

General Outlook for LTC
Litecoin is trading above the previous price range of $36 and $40. The coin can easily fall into the previous price range. Buyers lack buying power at a higher level as the coin is confirmed below the $43 resistance. A trader should adjust his stop-loss orders to $35 low.

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Litecoin (LTC) Holds Above $40,Battles $42 Minor Resistance

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
After the bearish impulse on April 13, LTC dropped to $40 low. The selling pressure was caused by price as the pair reached $47 overbought region. Sellers pushed prices down to $40 low. This provides buying opportunities as buyers emerged. It is anticipated that a repeat rebound is likely as price moves up. The market is likely to retest the $47 resistance if a rebound occurs. However, if the bears suddenly break below $40, the coin will drop to $35 low.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA is acting as a support for Litecoin. The pair is also at level 46 of the Relative Strength index. It indicates that it is in the downtrend zone and below the centerline 50. There is a tendency for price falling.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, Litecoin is in an upward move. Presently, the upward move has been hampered because of the resistance at $47. The bearish impulse has broken the trend line. Technically, the uptrend has been terminated. A fresh upward move has begun if the bulls sustain the momentum.

LTC/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping upwardly to indicate the uptrend. LTC is above 40% range of the daily stochastic. The pair is in a bullish momentum.

General Outlook for LTC
Litecoin is in an upward move after falling to a low of $40. The current support is holding as the market moves up. The uptrend will resume if price breaks above the trend line.

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Litecoin (LTC) Resumes Uptrend, Faces Minor Resistance at $48

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
Finally, the bulls overwhelmed the bears after a rebound at the low of $40. The rebound took price to the high of $48. The price retraces to a low of $44 and then went up above $45. Before this time, the market has been consolidating between $28 and $40.

Later, Litecoin came closer to a tight consolidation between $36 and $40. On the upside, if the bulls break the resistance at $48, LTC will rise to the high of $60. Possibly, a minor resistance may be faced at the $52 price level before the high of $60. On the other hand, if the bulls fail to sustain above, LTC may fall to a low of $42 or $40.

LTC/USD – Daily Chart

Daily Chart Indicators Reading:
Litecoin is above 80% range of the daily stochastic. The pair is approaching the oversold region. Litecoin is in a strong bullish momentum. The upward move is ongoing as price breaks the resistance line.

LTC/USD Medium-term Trend: Bullish
On the 4 hour chart, Litecoin is in an upward move. On April 6, the bulls rebounded to break out of the range-bound zone. The market reached a high of $48 but it is currently facing minor resistance. An upward movement is expected if the resistance at $48 is breached.

LTC/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping upward move to indicate the uptrend. The price reached a high of $48 and was overbought. Sellers have emerged to push LTC downward. The market is falling and approaching the low of $44. However, if the current support holds, the upward move will resume.

General Outlook for LTC
Litecoin has broken out of the range-bound zone of $36 and $40. The price is falling to a low of $44 after reaching the resistance at $48. Litecoin will resume uptrend if it sustains price above $44. However, if the bears turn around and break below $44, LTC may fall back to the range-bound zone.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $46
Stop: $45
Target: $48

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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