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

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

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News