Litecoin News Today – Litecoin LTC Price Extended it Upside Movement, but the Major Trend Looks Bearish – April 25th, 2020 

  • Litecoin LTC price was in a positive region in the last 24-hours
  • The digital asset extended it’s a position to the upsid
  • Litecoin’s major trend may be bearish

Litecoin news today – The price of Litecoin was trading in the positive territory from the beginning of trade on Friday, April 24 to today, Saturday, April 25. During that time frame, the digital asset managed to extend its upside movement after four consecutive sessions in the green. Now the price of Litecoin is set to undergo another critical test at resistances around $45 and the $46 area. The bulls are pressing for a breakout of a narrowing daily range block, high at $45, low down at $40. Let us see more highlights about the performance of the digital asset.

Litecoin Price Prediction – The LTC/USD Bulls Have Been Breached Via the Hourly Chart

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$44.63

Looking at the hourly chart (the one hour chart) for LTC/USD, we can see that there is a bullish pennant structure viewable. Here, the bulls have been breached. The Litecoin price is still recovering from the March 12 bear market. On April 24, the coin rebounded above its main resistance but unfortunately, the bears pulled it back below this resistance. Since April 10, Litecoin price has been struggling to break the resistance at $43 and $47. This upward movement has been hampered because the bulls’ cannot break the aforementioned resistance positions. Looking at the upside, if the price rebounds at the low point of $42, there’s the possibility of prices breaking the $43 and $47 resistance areas. The coming trading sessions will be crucial for the digital asset.

Litecoin news today – Possible That LTC’s Momentum Can Take it to $63

The price of Litecoin is still within the control of the bulls. Hence there are still several possibilities for the asset to go higher. There is a chance that the current momentum that LTC holds can help extend it’s price to the $63 mark. This can only happen if the bulls succeed. On the other hand, if the bulls do not succeed in their attempt to overcome the aforementioned levels, the price of LTC will likely continue its fluctuations below the $43 area. The bears could take advantage of the slightest sign of weakness and force the coin to break below the $40 support area. This outcome will likely further depreciate the value of the coin to a low of $35. The current metrics show that Litecoin is sitting at level 53 on the Relative Strength Index Period 14. This means that the digital asset is currently in an uptrend zone. Hence, there is still the possibility of growth.

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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