- LTC/USD posted a minor surge of 0.74% in the last 24-hours
- Litecoin’s major resistance position seats at $43.55
- LTC’s price may have paused below the $45 level
Litecoin news today – The price of Litecoin was trading at $43.47, at press time. It posted a minor surge of 0.74% in the past 24-hours of trade. While LTC has maintained a consistent upward action (despite been slow) since the March crash, the coin also suffered major falls in-between. Multiple attempts to break $45 have failed. Litecoin’s price could consolidate in its current range for a while. After falling to $41, Litecoin jumped back up. However, the coins’ price may have stuttered below the $45 area. The moving averages have aligned with the bulls. The 50-day MA was well above the 100-day MA. While the 50-day MA has resisted an upward price action, the 100-day MA has been critical support and helped to prevent further downward action.
Litecoin news today – LTC’s Price May Have Paused Below the $45 Level
Litecoin ended the past week down by 2.27% at $42.96. It began the day bullish and rose to an intraday high of $43.82 before reversing. Falling short of its first major resistance at $44.20, Litecoin dropped to a late intraday low of $42.90. It avoided its first major support at $42.56 and briefly revisited $43 before easing back. Litecoin fell to $42.91 early in the morning before rising to the $43.14 area. Litecoin left its major support and resistance areas untested. Litecoin must move to the $43.25 pivot support area to initiate a run to its first major resistance at $43.55. The coin will need support from the rest of the market to break to its morning high of $43.14.
Litecoin Price Prediction – Failure to Break $43.82 Could See LTC Struggle
Litecoin (LTC) Price Today – LTC / USD
In the absence of a crypto rebound, Litecoin’s first major resistance and Sunday’s high point of $43.82 would cap any upside action. Failure to break the $43.25 barrier could see the price of the Litecoin struggle. A fall to its morning low of $42.91 would bring $42.63 back into play. In the absence of another extended sell-off in the market, Litecoin should avoid the levels below $42. The coins’ second major support is at $42.31 which should limit the chances of downside action. The technical indicators for LTC/USD show that the major support position at $42.63. The coins’ major resistance is at the $43.55 area. Other relevant technical data for the coin on the daily chart include the 23.6% fib retracement at $62, the 38.2% fin retracement at $78 and the 62% fib retracement at $104