- Litecoin is waiting to break out of a daily symmetrical triangle
- LTC/USD pair will break out from the $50 area and above
- If this pattern breaks, LTC price will move to $64
Litecoin news today – The digital asset market has continued its recovery phase to this day. One of the assets doing well is Litecoin. The LTC/USD pair is currently seating inside a symmetrical triangle pattern. There is evidence that this pattern was formed during the past month (May) and a half. The price of Litecoin has managed to recover from the digital currency crash on June 2. At the time the digital asset successfully defended the EMAs (including the daily 12-day EMA and the 26-dau EMA). The top digital asset will likely break out of the $50 area if this pattern continues. There is a chance that it will reach the $64 price position. Let us see more about how the price of Litecoin performed in the past 24-hours.
Litecoin Price Prediction – LTC/USD Found Resistance at &49.92 Via the Daily Chart
The Litecoin bulls can find a well-positioned resistance areal at $49.92. This was triggered by the June 2 massive rejection. Note that, this isn’t the only resistance area that the coin has faced on the daily chart. Recall that Litecoin managed to form another high at $50.87 on April 30. LTC/USD has cooled off. The price of Litecoin has continued to trade above the 12-day EMA and the 26-day EMA on the daily chart. Litecoin’s nearest and most important area of support is the low point that was recorded on June 2. It was at $44.54. It is marked on the chart with a green horizontal pattern.
Litecoin News Today – LTC/USD Found Resistance at $48.08 Via the 4-hour Chart
Litecoin (LTC) Price Today – LTC / USD
According to the 4-hour chart of LTC/USD, we can see that there is another line of resistance for the coin. The resistance area is seating at $48.08. This resistance was formed on the 4-hour chart of the pair on May 30. The chart also indicates that there is a strong support position at the $46.30 area. The Litecoin bulls have reportedly done a great job for the coin. The bulls have successfully defended the 12-day EMA and the 26-day EMA in this time frame as well. Even though the coin is in the green, for now, there is still a slight chance of the asset posting loses. If Litecoin posts a clear loss of the two Exponential Moving Averages mentioned above, it could be an indication of a shift in momentum for the coin. It will likely be a momentum shift that will favor a return for the bears.