Litecoin News Today – Litecoin LTC Price is Signaling Fresh Increase To $50 as Altcoins Recover – June 4th, 2020

  • Litecoin LTC price is signaling a fresh increase to $50
  • Litecoin’s price retreated from $50 to $45
  • The coin is forming a bullish pattern at $46.50

Litecoin news today – Litecoin’s price retreated from the $50.00 area which is resistance and found support at the $45.00 area against the USD. The price of LTC is currently on the rise. It could surge after clearing the $48.00 resistance position. There is an important bullish pattern forming with support at $46.50 via the 4-hour chart. The price of the number one digital asset by market cap Bitcoin could continue going higher above the $9,800 if the value of LTC clears $48.00 which is resistance. Litecoin price is on the rise again from the $45.00 area which is a support zone against the USD. LTC will likely break higher which might fuel a fresh rise in BTC and ETH.

Litecoin Price Prediction – The Price of Litecoin Could Retest $50

Earlier in the week, the Litecoin price moved higher above $45.00 and $48.00 both of which are resistance levels. However, the price of LTC failed to move past the $50.00 resistance. A new high was formed close to the $49.94 area before the price began a sharp downside correction. LTC eventually broke a few important support areas near $48.00 and remained well bid above the 100-day SMA (simple moving average) via the 4-hour chart. A new low was formed near the $44.58 area and the coins’ price is currently rising. Litecoin’s price is trading above the $46.50 level. It even surpassed the 50% Fib retracement via the recent drop from $49.94 to $44.58. There is a major bullish pattern forming at the $46.50 support via the 4-hour chart.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$41.58

Litecoin News Today – LTC/USD is Now Approaching the $48 Resistance

The LTC/USD pair is currently approaching a major resistance close to the $48.00 area (which is the recent breakdown area). It also coincides with the 61.8% Fib retracement via the recent drop from $49.94 to $44.58. A successful break above $48.00 which is a resistance could spark a new run to $50.00 which is also a resistance. The bulls will face their next major hurdle near the $52.50 level. If the price of Litecoin fails in its attempt to continue moving above the $48.00 area which is resistance, there will be a risk of the digital asset posting a fresh decline. Looking at the downside, the first significant support is at the $46.50 area. The main support is at the $45.00 position. A daily close beneath the $45.00 area could initiate a fresh drop to $41.50 which is a support.

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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