Litecoin Surges By 7%, Outperforming Bitcoin And Breaking Key Resistances In The Bull Rally, Will The Bulls Hold The Gains?

Litecoin spent the first three months of the year rising against the USD. It recorded a 200% surge from its all-time low around $20. The Litecoin price prediction 2019 was bullish as technical analysis initially revealed that the price of Litecoin will continue to rise against the USD even after the Litecoin halving. In the first week of April, Litecoin almost crossed the all-important $100 resistances during the cryptocurrency bull run. Unfortunately, there was a turn of events and the price of Litecoin started to fall lower against the USD. As we said in our previous Litecoin price prediction 2019, analysts expected the price of Litecoin to move as low $50 before another significant surge will start. This morning, Litecoin has defied the odds and is trending higher outperforming Bitcoin and many other top cryptocurrencies.

Litecoin Price Prediction 2019 – Litecoin Price Analysis – Litecoin News Today – Litecoin May Face Resistance At $76 During Bull Rally

According to a Litecoin technical analysis on Cryptoglobe, the price of Litecoin will most likely face resistance at $76 even with the current bullish momentum. Right now, the price of Litecoin has a support level at $70. If Litecoin falls below this level, it will be supported by $60. Falling below the $50 would move the price of Litecoin lower to the $40 level. However, with the current bullish momentum in the market, the price of Litecoin is most likely going to move higher since or has already moved passed the resistance at $70. The next resistance would be at $72. Crossing this level would see the price of Litecoin face another resistance at $75 and $80.

Litecoin (LTC) Price Today – LTC / USD

Name Price
litecoin
Litecoin
$68.73-1.08%

Yesterday, the price of Litecoin moved as high as $76 before it found resistance and started falling against the USD. It has been rejecting higher highs since after it tested the $96 level. So, there is a chance that it would still bounce off this level today. If, on the other hand, the bulls are able to break above this $76 resistance level, which is above the 12 and 26 day EMAs, it is going to surge as high as $84 near-term. If the price of Litecoin is unable to surge above this $76 resistance level, the range bound movement would resume and the price will move lower against the USD near-term. Right, now the stochastic oscillator is in the oversold region above the 20% range. This means that the bulls are in control of the market.

Litecoin Price Prediction 2019 – Litecoin Price Forecast – Litecoin News Today – Current Price Of Litecoin

At the time of writing, the price of Litecoin was $72.82. This means that it is up by 7.41% against the USD and up by 5.18% against the price of Bitcoin. The trading volume over a 24 hour period is $2,697,750,510 and the market capitalization is $4,483,520,629. The price of Litecoin is still showing some bearish signs. However, it is important that the bulls break this trend by crossing the resistance at $76. It will move as high as $84 and eventually retest the $96 level. The entire cryptocurrency market is currently bullish. So, the momentum might be enough to help the price surge above this important $76 resistance if it continues.

What do you think about the Litecoin price prediction 2019 and the Litecoin price analysis in our Litecoin news today? Share your thoughts in the comment section below.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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