Litecoin Price Analysis: Could Litecoin (LTC) Break Its Resistance Level At $150 Very Soon?

On the 16th of May, the value of Litecoin had a bearish outlook. It was assumed that if the digital currency continued its downward movement, it would have found support at the $130 or $140 levels. The Relative Strength Index (RSI) period also showed that the digital currency was oversold, indicating that the market will be taken over by the bulls.

The Price Analysis and Current Value of Litecoin

At the time of writing, the value of the digital currency is $138 after a 0.8 percent increase. The value of Litecoin is bound within a range because of the support level at $130.00 and the resistance level at $150.00. On May 15, bulls approached the level of resistance but were resisted at the $152 mark, which makes the value of the digital currency declined to the low of $136.

SEE ALSO:   Cardano Price Analysis: The Possible Pullback Levels of ADA (Cardano (ADA) Technical Price Analysis June 2018)

Nevertheless, if the value of Litecoin exceeds the resistance level, the cryptocurrency will get back to the high of $160 and face a new resistance level at the $168 mark. On the other hand, if the value drops below the $130 support level, the value of the coin will fall to the low of $120. Meanwhile, the RSI period is at level 51, suggesting that the value of the digital currency is in the range bound zone.

SEE ALSO:   Litecoin Price Analysis Today: LTC Is Still In A Range Bound (Litecoin (LTC) Price Forecast June 2018)

The Short-Term Trend of LTC against USD

The range of the cryptocurrency is between the levels of $137 and $141. This is a great trading setup. For someone that has been following the market from its inception, you will definitely want to take a short trade at the level of resistance and exit close to the support level. For short trades, make sure your stop loss is placed above the resistance level, while for long orders, your stop loss should be placed below your support level.


Legal Disclaimer: The content of this website ( is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from

SEE ALSO:   Bitcoin Price Predictions: 2018 could be the best year for the Bitcoin -BTC News Today -Coin Prediction Today

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!

Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!