- The LTC/USD pair is down by 0.16% on the day
- Litecoin must reach $44 to support a run at $45.43
- LTC has major support and resistance at $45.43 and $42.50
Litecoin news today – Litecoin has been slow in its recovery from March’s crash. The price of Litecoin fell by 1.92% on Monday, July 13. This fall followed on from the 0.07% decline from Sunday, July 12. At the time Litecoin ended the trading session at $43.90. A bullish start to Monday’s session saw the price of Litecoin rise to reach a mid-day intraday high point of $45.55 before it hit reverse. The price of Litecoin also broke its first major resistance position at $45.38 before it slid to a late intraday low point of $42.62. Litecoin’s reversal saw it initiate a fresh fall to the first and second major support positions at $43.90 and $43.09.
Litecoin Price Prediction – Litecoin’s Price Must Reach $44 to Support a Run at $45.43
Finding a suitable support position later in the day, the price of Litecoin managed to break back its major support areas to limit the number of losses on the day. As of when this content was written, the price of Litecoin was down by just 0.16%. The digital asset is now changing hands at $43.83. A bearish start today’s session saw the price of Litecoin fall from its early morning high point of $43.88 to a new low of $43.47. The digital asset left its major support and resistance positions untested in the early hours of the day. Litecoin must successfully move to the $44 pivot area to support a fresh run at its first major resistance of $45.43. The coin will require support from the broader market if it wants to succeed in breaking back to the $45 area.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – LTC Has Major Support and Resistance at $45.43 and $42.50
In the absence of a fresh crypto rally, Litecoin’s first major resistance position and Monday’s high point of $45.55 will probably cap any chances of an upside movement. Failure to move swiftly to the $44 pivot position would bring back Litecoin’s first major support position of $42.50 into play. In the absence of a fresh extended crypto sell-off, the price of Litecoin should avoid the levels below $40. The second major support area for the digital asset at $41.09 should cap any downside action in the long time frame. The technical indicators show the major support and resistance areas for Litecoin at $45.43 and $42.50 respectively. The 23.6% and 38.2% Fib retracement levels at $62 and $78 are also essential for the long-term outlook. The next few days of trading will determine whether the price will move higher against the USD near-term.