- The price of Litecoin gained 2% in the last 24-hours
- The LTC price was changing hands at $40 at press time
- The crypto remains in an ascending triangle
Litecoin News Today – The price of Litecoin got a solid 2% price gain in the last 24 hours. This move took it to the upper boundary of the ascending triangle. It has maintained this position for the last two weeks. The digital asset must now break this consolidation action to dictate its next travel direction. Litecoin price found support at the $30 area during March’s market capitulation. This action allowed the digital asset to stage a rebound and initiate a move higher. However, the LTC bulls are not yet in charge of the momentum. Experts believe that this could suggest that we might see the price of Litecoin heading lower eventually.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Analysis – Litecoin Price Started Moving Higher After Finding Support At $30
When you look at the daily chart for LTC/USD, you will see the ascending triangle described here. The digital asset found support at $30 before it began to go higher in the last 2-weeks. LTC/USD faces strong resistance at $41 which is given by the upper side of the triangle. The coin has failed to move past this resistance point in the last four days it’s still supported at $39. As the coin is trading in a consolidation position we can see that Litecoin is currently neutral. Hence, a break under the lower side of the triangle described here would ensure that LTC turns bearish once more. However, to remain bullish, LTC price must rise higher and break the $52 resistance position.
Litecoin Price Prediction – After LTC/USD Breaks the Upper Boundary, it Will Face Resistance at $44
The moment the upper boundary has been broken, the initial level of resistance will be at $44. Above this area, the other resistances stand at $47.70, $49.33 and $50. Above the $50 level, there is also resistance at $52 and $54.70. Toward the downward area, the initial support level lies at $39. There is also support beneath the triangle. Under this point, there is support at $36, $32, and $30. Despite the bears holding control firmly, one trader Alex Clay has offered two outcomes to the future of Litecoin. Per his analysis, Litecoin’s price created a broadening bullish pattern. This suggests two potential buying areas for the coin. The first will happen after LTC’s price breaks the strong resistance point at $38.60. After which Litecoin would see more gains. In another scenario, if LTC’s price does not break this resistance, we may see a new retracement to $37.00. This will mark the second buying point.