- LTC/USD maintains a bullish pattern but still needs to reach $50.87
- Litecoin LTC is up 10% in the last 48 hours
- The current upward action could be stopped by $50.87
Litecoin news today – The LTC/USD pair has experienced a huge hike in trading volume on the majority of digital currency exchanges. After a clear bullish break on May 30, LTC price is now trading at $49.58, which is inches away from $50 a resistance level. There is also the crucial resistance of $50.87 set on May 4. The LTC bulls managed to break the daily 12-day EMA and the 26-day EMA which crossed bullishly. Any rejection at $50.87 can hinder the current Litecoin uptrend. So far, the digital asset has been following the top assets (Bitcoin and Ethereum) and is still at their mercy. A break above $50.87 can push LTC to the $60 area.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Prediction – Litecoin is in a Clear and Robust Uptrend Via the 4-hour Chart
The price of Litecoin is currently inside a clear and firm 4-hour timeframe upward action. It is at this point that bulls can find higher lows and make them support areas. The nearest support is the 12-day EMA which is currently set at $47.91. This is followed by the 26-day EMA at the $46.84 area. The RSI for LTC/USD is overextended and must cool off eventually. However, it won’t necessarily make the bulls fail in their attempt to break the $50 level. Litecoin slid by 4.68% within the past 24-hours. Partially reversing its 5.92% rally it posted days earlier at $46.03. The bulls were in control at the start of today’s session which saw Litecoin rally to $49.90 which is an early morning intraday high before it hit reverse.
Litecoin News Today – LTC/USD was Changing Hands at $45.88
The price of Litecoin eventually broke through its first major resistance position at $49.71 before it slides back to an early intraday low of $44.52 in the afternoon. The Litecoin price also fell through its first major support position at $46.09. After this action, it briefly hit the $46.22 area. When this content was published, the price of Litecoin was down by 0.33% and was trading at $45.88. The trade session for the day began in a mixed fashion. This action ensured that the price of Litecoin saw a rise to an early morning high point of $46.28. After this rise, the coin’s price fell to a low of $45.58. Note that the Litecoin price also left it’s major support and resistance areas untested in the early hours of the session. All in all, the bullish sentiment is still in play for the coin.