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A price increase of the magnitude of 3.92% occurred within 24 hours. As it stands, more increases may be seen as price action seems to be doing well in avoiding headwinds. Let’s get a close-up look at price development in this market.
LTC Statistics
Litcoin Value Now: $95.50
LTC Market Cap: $6,952,417,744
Litecoin Circulating Supply: 73,475,602 LTC
Litcoin Total Supply: 84,000,000 LTC
LTC CoinMarketCap Ranking: 11
Major Price Levels:
Top: $95.50, $97.40, and $100.20
Base: $95.00, $94.00, and $93.00
Litecoin Closes in on the $96.00 Price Threshold
Prices in the Litecoin daily market leaped off the lowest band of the applied Bollinger Bands. Also, it should be noted that volatility in this market is moderate. Consequently, the last price candle here has appeared above the middle limit of the Bollinger Bands.
Furthermore, the Moving Average Convergence Divergence MACD indicator lines are now touching at the tip for a bullish crossover just below the equilibrium level. Combining indications coming from the Bollinger Bands and MACD, we can conclude that price action may gain more upside traction at this point.
LTC Bulls Look Determined to Retrace the $100 Mark
Extending the LTC price analysis to the 4-hour market, it could be seen that price action seems to be renewing its upward momentum. This is so, even though the last price candlestick here has pushed against the uppermost limit of the Bollinger Bands. Normally, a downward correction should have resulted, due to lowering upside momentum.
Nevertheless, it is at this point that the MACD indicator last bar is indicative of the fact that momentum may be on the rise. The lines of the MACD can be seen to have continued trending upward above the equilibrium level. So, it seems logical enough to predict that this upside retracement may extend toward the $97.00 mark.
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