- The LTC/USD bulls have taken the day
- Litecoin LTC price is approaching the $80 mark
- Litecoin LTC is changing hands at $76.93
Litecoin news today – The Litecoin price can be seen moving in the green region in today’s session, as the bulls make a return. The coin’s price is moving just over the upper position of the channel. That is the point where LTC/USD has gained no less than 3.61%. As of when this report was published, the Litecoin bulls had returned and broken the brief downward trend the coin entered in recent days. This capped at the upside of $77 and was supported at the downside of $71, in basically tight conditions.
Litecoin LTC Price Was Held in a Brief Downward Pattern
In the early part of this month, the Litecoin price was held in a slight downside pattern after the coin’s bulls failed to take control several times. The price of the coin failed to clear several hurdles especially the one near the $73 resistance level. However, at press time today, the bears have been forced out. They are trying to retake the market but the LTC price has started revising. Additionally, if there is a break beneath the $70 support position, we can expect a deeper decline near the $66, $64 and $62 positions all of which are supports.
Litecoin (LTC) Price Today – LTC / USD
The daily chart of the LTC/USD pair also reveals that the pair may exhibit tendencies to correct lower. This will happen after LTC begins to purge from its overbought area. This indicator is confidently stable on average. If buyers continue to force the market over the upper part of the channel, the price of LTC may reach resistances at $84, $86 and $88 respectively. Against BTC, Litecoin price is now attempting to cross the pattern to reach the 0.0080 BTC point which is a resistance point Unless the coin crossed the pattern and its price end up dropping above it, there may not be a reason to expect a bullish reversal for the digital asset.
What Does the 6-hour LTC/USD Chart Say?
However, if there is any movement beneath the nearest support point, LTC/USD could refresh lows below 0.0075 BTC. A bearish continuation may reach significant support at 0.0073 BTC. After this it could fall to the 0.0071 BTC point and beneath while buyers can push the market to resistances at 0.0083 BTC and above. RSI is at the 14 levels and is still moving in the overbought region but traders should watch for a change of pattern in the near-term. The price of Litecoin is trading at $76.93 as of when this report was published as RSI enters the overbought area.