Litecoin (LTC) Buyers Appear to Be Trying to Extend Profit Above the $94.00 Mark

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.



Litecoin’s price had recently ramped up from near the $73 mark to around the $93.50 mark. However, no sooner than price action tested that price level, some downward retracement started. The mentioned downward retracement saw LTC prices fall below the $90 mark. At this point, price action seems to have bounced back, let’s see what happens next in this market.

LTC Analysis Data:
Litecoin Value Now: $93.38
LTC Market Cap: $6,762,113,416
Litcoin Moving Supply: 72,563,852
LTC Total Supply: 84,000,000
LTC CoinMarketCap Ranking: #13

Major Price Levels:
Top: $93.38, $94.00, and $96.00
Base: $93.00, $92.00, and $91.00

Litecoin (LTC) Buyers Appear to Be Trying to Extend Profit Above the $94.00 Mark

Litecoin (LTC) Seems to Have Regained Upside Traction

As earlier mentioned, Litecoin’s price on the LTC/USD daily chart had retraced downward in the past two trading sessions. But in this session, price action regained most of the lost upside ground when its price moved upwards by 3.42%. With the appearance of the last price candle on this chart, price action seems to have regained its upside path. Also, the Moving Average Convergence Divergence (MACD) indicator line is revealing that upside momentum has continued growing. This can be seen through the histogram bars and how the indicator curves have crossed above the 0.00 level. Additionally, due to the recent price gain, the lines of the Relative Strength Index (RS) indicator, following a bearish crossover, have started trending sideways instead of trending downwards. Consequently, it appears that the price is still upside-bound.

Litecoin (LTC) Buyers Appear to Be Trying to Extend Profit Above the $94.00 Mark

Litecoin (LTC) Maintains an Upside Bearing

On the 4-hour LTC/USD market, price movements still have an upward bearing. Price action can be seen staying mostly above the upside-sloping trend line that was drawn on this chart. Also inside today’s trading session, price action has moved further upward from the midline of the Bollinger Bands. At this point, the RSI indicator lines have performed an upside crossover in the oversold region, and their lines are moving gradually upward. Likewise, the MACD indicator is showing that downward forces are out via its bars. Therefore, it appears more likely that Litecoin’s price will increase to the $96.00 mark as trading activities continue.

Buy LTC on eToro

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *