Litecoin (LTC) Surges Higher Amid Sleepy Market
Login

Litecoin (LTC) Surges Higher Amid Sleepy Market

Estimated Reading Time: 2 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
Litecoin is in a bear market as the coin recovered from its last bearish move. On December 18, the coin sank to the low of $36 and moved up. LTC moves up to the high of $43 and faces another selling pressure. Litecoin fell to $40 low and it is moving up again. On the upside, a break above the $43 will drive the coin to the high of $50. Meanwhile, if the bulls fail to break the current resistance, the coin will resume its fluctuations below it.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
The stochastic indicator is above 50% range. This implies that Litecoin is in a bullish momentum. The coin is expected to rise to the previous highs. Nevertheless, if the bulls break above the 21-day and 50-day SMAs, LTC will resume its uptrend move.

LTC/USD Medium-term bias: Bearish
On the 4-hour chart, the bears broke the $43 support and slumped to another low of $36. The current low was well supported as the coin moves up to retest the $43. After the retest, the coin fell to another low to resume another bullish move.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are trending upward indicating that price is rising. The Relative Strength Index period 14 level 50 is  indicating that price is approaching the bullish trend zone. On the upside, if price breaks and closes above the resistance line, LTC will reach a high of $50. On the downside, LTC will fall again if the support line is broken.

General Outlook for LTC
Litecoin is still in the bearish trend zone despite the bullish move to the previous highs. The buying power is weak at the lower price levels. However, if the current bullish momentum is sustained, Litecoin will rise to the previous highs. Meanwhile, the breaking of the $43 resistance level will determine the coin upward move.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $41
Stop: $30
Target: $50

  • 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