Litecoin News Today – Top Headline for Litecoin LTC December 9th, 2019

  • Declining price pattern of LTC could spell bulls for the coin
  • Fluctuating price trend of Litecoin price shows a bullish breakout in the near-term

Litecoin price analysis – On Sunday Litecoin experienced a price surge by 0.86%, annulling a 0.35% decrease from Saturday, Litecoin ended the week below4.00% at $45.6. The coin started the day with a bearish trend that saw the coin decline to an early morning intraday low at $44.92 before finding support.

Eluding the first key major resistance level at $44.65, Litecoin rallied to a late afternoon intraday high $46.32. The coin broke through the first key resistance level $46.16 before descending back to $45.5 levels. While the $46 resistance was retested, Litecoin found late support to end the day in the green.

For a while now, Litecoin has been trading close to its support level, even though there have been minor surges, the coin has failed to display notable rallies after that of August 2019. For the day ahead, Litecoin would need to revisit the $45.60 levels to support a run at the first key resistance level at $46.31. Over the last 24-hour, Litecoin has been trading at $46.09 after displaying 0.21% gains. Currently, the coin has recorded a market cap of $2.94 billion and a 24-hour trading volume of $2.29 billion.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$45.97

From mid-June 2019, Litecoin’s price has gone into a declining frequency outline. The coin’s price has been fluctuating between two downward sloping parallel lines. This price pattern shows a bullish breakout in the near-term.

Fluctuating price trend of Litecoin price shows a bullish breakout in the near-term

On 10th August, the moving average of the coin incurred a bearish limit shortly after the coin’s block reward halving. Ever since then, the moving averages have been following the price trend of the coin.

The moving averages seemed to be uniting but the 50 daily moving average was still soaring below the 100 daily moving average. If the coin should face a positive breakout, LTC trading price could surge at $55, a level which concealed since 20th November. A stronger pull could push the coin to reach its resistance level at $78. The coin had support at $40.73 and $32.96. The MACD indicator showed a bullish price momentum in the near-term after a long bearish dominance. Though in the oversold zone, the RSI indicator suggested at a spike upward close to the 50 averages.

Litecoin price prediction – the long-term price prediction for Litecoin showed a bullish trend as the price fluctuates between the declining channels. Another bullish breakout would lead the coin into breaching the major levels at $55.25 and $78.2.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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