- LTC/USD is trading in a daily equilibrium pattern
- A break above $48 would take Litecoin above $50
- Litecoin LTC is holding the two daily EMAs
Litecoin news today – The price of Litecoin was trading at the $46.46 area as of when this content was written. The market still holds signs of upwards movement for some assets. The charts show that the coin is practically seating in the middle of a current daily equilibrium trend. Buyers are looking for a break above the $48 area. Meanwhile, sellers are looking for a drop below the $45. It is essential to recall that the Litecoin price is still in daily upward action. This price movement should favor the bulls benefiting from the current pattern. At press time, the price of Litecoin is holding the daily Exponential Moving Averages. Let us see more about how LTC performed during the last 24-hours.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – The Price of LTC is Holding Strong on the Daily Chart at the 12-day EMA
Litecoin is still holding strong on the daily chart at the 12-day EMA. The resistance that LTC must beat seats at $48.07. Sellers need must break $45.09. Litecoin is very well in a symmetrical triangle. This triangle will likely be broken when there’s a clear break of the equilibrium trend. The LTC bulls are worried in this position after losing the uptrend and the 12-day EMA and the 26-day EMA which have both crossed bearishly. This may be the first time that both EMAs cross bearish since the May 24 incident. But it took LTC just three days to climb above both EMA’s and complete a fresh bullish cross on May 28. The digital asset must move to $46.40 to support a fresh run at its first major resistance of $46.83.
Litecoin Price Prediction – Litecoin will Need Support From the Rest of the Market to Break $46.05
LTC will need support from the rest of the market to break its first major support at $46.05. In the absence of another extended digital currency rally, the initial major resistance and morning high will probably limit any chances of an upside. Failure to move to $46.40 which could see Litecoin in the red for the third day consecutively. A drop to levels below $46 would bring LTC’s second major support of $45.62 into play again. In the absence of an extended crypto sell-off, Litecoin’s price should avoid levels below $45. The coins’ second major support of $45.62 will likely limit any downside action. Looking at the Technical Indicators for LTC/USD, The digital asset has major support at $46.05. LTC’s major resistance position seats at $46.83.