Litecoin News Today – Litecoin LTC Price Bounces Back, Appears to be Pushing Higher

  • Litecoin LTC gained 2% in the last 24 hours
  • The coin’s price is now back above the $70 area
  • The crypto found support at the $67.50 area

Litecoin news today – The price of Litecoin reportedly saw a minor 2% rebound as trade opened today after it had suffered a heavy decrease of 12% since this week began. The digital asset has finally managed to climb back above the $70 mark after it found support at the $67.50 position. The digital asset is the number 7 largest crypto by market cap and it currently holds a total market capitalization of $4.61 billion at press time.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$38.94

Litecoin Price Prediction and Market Overview

Litecoin News Today – Since our previous Litecoin price prediction, the price of Litecoin has continued to find some level of support at the $67.50 area. This has prevented the digital asset market from dropping even lower. The crypto is now attempting a fresh rebound higher. LTC price managed to find some support at the lower side of the ascending channel that we have been following. This further adds to the level of support in that area. This support at $67 has held strong, thanks to LTC’s rising channel. This means that we can say that Litecoin is now within a bullish trend. The price of LTC must collapse under the $67 area before it turns neutral again. If the bulls continue pushing above the $71 area, then the first level of resistance will be expected to appear at the $76.72 region, as long as it is on the 382% Fib Retracement level. Apart from this, there is also resistance at the $80 and $83.05 level. If LTC buyers can cause a new 2020 high above the $83 area, then they will be able to see the resistances at $86, $89.28 and $95.55.

Additional Support for LTC/USD at $63.57
Additionally, if sellers push lower, then the first support level for LTC is expected to pop up at the lower boundary via the price channel. Under this area, is the $67.50 support. If sellers continue going lower, then they will find additional support lying at $63.57 and the 200-day EMA. RSI for LTC/USD has recently slipped under the 50 level, although the bulls are looking to take the market back up. For a bounce higher, traders and investors must wait for RSI to break above the 50 levels once more and show that the bulls have indeed taken back control of the market momentum. Litecoin’s key levels here include; Support areas at $67.50, $64.59, $61.33, and $60. Resistance areas at $76.72, $78.44, $80, $83, $86, $89.28, and $90 via the daily chart.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

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