- Litecoin is trading 0.45% lower after wild swings
- There are several key intraday support and resistance to watch
- LTC/USD pair has had an excellent run recently
Litecoin news today – A close look at the daily chart for LTC today shows that there has been a slight retracement after the LTC/USD trading pair started the trade session well. Now the $81.29 area could act as the initial intraday resistance point for a higher move to materialize and this wave will push to a high of $81.45 (and could be the most important resistance point for Litecoin). Looking at the support side, the position above the $77.00 area could become an important threshold. If this level breaks, it may be an indication the LTC/USD trading pair is heading lower. However, we can’t rule out the possibility that there is a trend-line that could potentially act as support. Which is often the case with the price of Litecoin.
Litecoin LTC Price Prediction: LTC Price Pushed Sellers Above $80
The price of Litecoin during trade this session has endured and managed to push the sellers to stay afloat above the $80 area following the initial rejection it got at 80. Litecoin price prediction shows that the coin remains in the short-term. The bull got their chance after the coin’s recent reversal was LTC/USD embraced a major support point at the $78 area, the trend-line, and the 50 Simple Moving Average.
Litecoin (LTC) Price Today – LTC / USD
The Litecoin price is currently pushing for consolidation above the $80 area. The coin’s ability to defend the $80 position will determine the speed at which the LTC bulls can relaunch their attack towards the $100 region. However, there is danger in the dark with the creation of an upward wedge pattern. If Litecoin’s resistance at the $85 area is not cleared on time, Litecoin’s potential to launch a reversal will stay high. This implies that sellers could end up trimming the accrued gains for the time being until LTC/USD finds any credible support at either the $60 area or the $70 region.
The Bulls To Hold Control on the Short Term
LTC/USD short term technical analysis indicates that the Litecoin bulls will hold control after taking over from the bears. The price of LTC is now bouncing off the ascending trend lines’ support position in conjunction with the 50-day Simple Moving Average. The short term resistance point at $80 must now come down if the price LTC will tackle higher levels around $85 before trending further upwards to the $100 area. The price of LTC is 3.77% up in the last 24 hours. It is trading at $82.06.