Litecoin News Today – Headlines for December 2019

  • LTC shows an Intraday Bullish Move
  • LTC price analysis – LTC/USD

Litecoin News Today – LTC, the sixth-largest digital asset with the current market cap of $2.8 billion has gained 1.3% in the space of 24 hours. LTC is trading in line with the rest of the market, which means that the coin is at risk of dominating sentiments. Currently, LTC is trading at $43.53 and is gradually moving to the upper Bollinger Band.

The current trading price is due to a positive intraday move. If this price trend persists, LTC price will probably surge above the key support/resistance level. The key support from the short-term and the medium-term moving averages has positioned the coin above the 20-day Bollinger Band Basis.

Litecoin Price Analysis – over the past one month, the coin has been correcting upward, though if for any reason such as volatility the coin declines, investors should expect the current resistance to serve as key support. The instant staring of the 20-day Bollinger Band reveals the forthcoming volatility as the bands are seen expanding.

If the price increases further, the first aim rests around $49 price level, and if it takes a reserve, it might decline as low as $35. It is worthy of note that the major moving average is all within the 20-day Bollinger Band zone, providing extensive support. Besides this, the current price serving as a significant price zone.

The technical chart of the coin asserts the intraday move, with the MACD of the coin moving above zero and retaining a bullish limit as it overtakes the signal line. The RSI of the coin is currently at $57.36, just having reverted from the overbought zone.

LTC price analysis – LTC/USD

On the intraday chart, LTC/USD has attained the $39.50 level and has been on a price recovery ever since. The coin has moved above the SMA50, its 1-hour price is currently at $42.89 and now this zone is acting as an upside trendline support. The next bearish target is slated at $43.73, which is the upper line of 1-hour Bollinger Band and $44.00, which is the intraday high.

On the downside, a viable move below the stated SMA50 will thrust the price of the coin towards $41.70, which is the SMA100 1-hour and $41.20, which is the SMA200 1-hour. Should the price decline below the support zone, the psychological $40.00 will be activated, followed by the recent low of $39.50. If broken, the sell-offs may begin soaring towards a psychological $30.00. LTC’s major support level is at $43.18, while the major resistance level is at $43.85

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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