Litecoin News Today – Litecoin LTC Bulls are Approaching a Game-Changing Flag Retest – April 24th, 2020

  • Litecoin’s price is trading in the positive zone by 3.35% at press time
  • LTC/USD has extended to the upside after Wednesday’s strong gains
  • Litecoin’s price is set to undergo a critical test at the $45 – $46 areas 

Litecoin news today – The price of Litecoin is reportedly trading in the positive territory at press time having added 3.35 % on the day. The digital asset has had a somewhat weird last few weeks considering the current market action. The LTC/USD trading pair has now extended towards the upside. This move is the continuation of the coin following strong gains from Wednesday’s trade session. Now, the Litecoin price is set for a fresh critical test at the resistance ahead of the $45 and $46 positions. Let us see a highlight of Litecoin’s overall movement over the past 24-hours.

Litecoin LTC price prediction – How the LTC/USD Pair Performed on the Daily Chart

The Litecoin bulls could be on their way to a critical point. The daily charts show that they will now be forcing a retest of the already breached daily flag structure for the trading pair. Note that the original breakout point was observed on April 13. The retest of this structure occurred on April 18. Via the LTC/USD hourly chart, the coins’ price action managed to smash out to towards the upside. This was attained from a bull flag structure. Now that the position has been smashed, the possibility of the LTC/USD trading pair inviting a fresh wave of bullish or upside momentum has increased. Hence, the bulls may stay put for Litecoin price from here. To determine if these positions will come to reality will mean waiting to see how the coming days play out.

Litecoin price prediction – LTC Price is Set to Undergo a Critical Test at the $45 – $46 Areas

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$46.93

The price of LTC is now moving close to its target of $47.60 of its Binary Dip formation. This position was formed after the coin went through a hard fall price action. In this same area, there is an important Order Block position as well. This region came from the past to the present day. There is also a Harmonic Gartley Pattern at the $46.15 area. It is forming close to the above-mentioned level. With the downward break and upside movement of the Rising Wedge formation that has formed for Litecoin’s price in the medium-term, LTC’s could fall into declines in the coming sessions. If there is a sharp drop, there will likely be a Harmonic Bat Pattern at the $31.40 area. Litecoin’s critical support areas stand at $38, $35, and the $32 positions as of when this content was published. Meanwhile, the key resistance points for LTC/USD include the $46, $47, and the $50 area.

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.

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