- LTC/USD charged towards the $50 level
- LTC bulls have taken control in the early hours of the day
- The daily confluence detector has healthy support at $44.20
Litecoin news today – The LTC/USD pair has reportedly gone higher from $44.18 to $47.19 on the day. This was the position it attained in the early hours of today’s session as the bulls took control. The daily confluence detector for the digital asset indicates a lack of strong resistances in Litecoin’s path to as far as the $50 area. Looking at the downside, we can see that LTC/USD has healthy support at $44.20. $44.20 and the 5-day SMA, daily previous low. There is also support at weekly Fib 38.2% retracement and the 100-day SMA alongside the previous low via the 4-hour time frame.
Litecoin (LTC) Price Today – LTC / USD
Litecoin News Today – Litecoin’s Price Should Move Above $50 if the Bulls Stay in Control
If the bulls remain in control of the market, they should have the opportunity to push the LTC/USD pair above $50 which the key psychological price level. During the last 24-hours of trading beginning from July 24, the price of Litecoin started higher in bullish control. However, it eventually touched down by 1.78% at some point since the last day. This move marked the second day in a row for the digital asset to go down in the middle of bullish sentiment. The coins’ overall volume was down by 42.75% from the previous day. Although, it was up by 38.88% on the same day during the past week. Among, the top-ranking digital assets, Litecoin ended up at the number 4 position for the day. This position is based on price change relative to the last 24-hours.
Litecoin Price Prediction – Litecoin Ended a Three 4-hour Candle Positive Run in the Last 24-hours
The digital asset ended a three 4-hour candle positive movement. This move also saw the coin finish with its last 4-hour candle down by 0.74%. Coming into today’s trading session for Litecoin, we can see that the coin is now close to reaching its 20-day, 50-day and 100-day moving averages, all of which are located at $43.64, $43.63 and $44.15 respectively. There may be a key juncture among the above-mentioned timeframes. The clearest trend can be seen via the 30-day timeframe. This chart shows the price moving up. Traders will want to remember that the 14-day time frame appears to show the price LTC forming a base. Such a move could indicate that there are support and resistance positions developing behind the scenes. For a fresh vantage point, Litecoin’s price has dropped 8 times in the last 14 trading days.