Litecoin (LTC) Bulls are Moving Towards the $120 Level, Can It Surge Higher Before The Halving?

Litecoin has seen good days in recent times and it appears that the bulls aren’t slowing down. From the chart highlighting trading for LTC/USD, Litecoin price found a support position close to the $100.00 handle before sharply bouncing back. LTC price is currently trading in a positive bias. It may likely accelerate higher and go above the $120.00 position. What more does the chart show?

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$139.01

Litecoin Price Prediction 2019: Sharp Declines in BTC, ETH and EOS, LTC Remained Stable Against USD

For a brief highlight of the trade activity for LTC, Litecoin price is now showing many of positive signs above $110.00 which is a support area against the USD. We would also talk about the crucial bullish pattern that has formed at the $111.00 support position via the 4-hour chart of the LTC/USD pair. We will talk about what’s next after LTC price started trading near $116.00 as well as why it could break the $120.00 position soon.

Recently, there’s a sharp decline in the prices of Bitcoin, Ethereum, and EOS. While these tokens have declined, Litecoin price has remained stable against the USD. The LTC/USD pair reached the support position near the significant $100.00 position. Now, it has bounced above $110.00 once more.

Litecoin Price Prediction 2019: Litecoin Price Showed Bullish Action Above $105.00 and Further

Looking at the chart highlighting trading for the LTC/USD pair, we can see that LTC price saw some bullish momentum above $105.00 and $110.00. The digital asset also saw a close above $110.00 and the 100 simple moving average via the 4-hour chart of the pair looked.

The LTC pair managed to jump towards the $120.00 position which is a resistance area to form a swing high of $121.67. However, LTC price failed to gather any momentum above $121.00. Recently it corrected below $118.00 and the 23.6% Fibonnaci retracement area via the upward wave beginning from $101.28 to $121.67.

However, the $112.00 level positioned itself as a strong support position. Besides, the 50% Fibonnaci retracement area via the upward wave beginning from the $101.28 swing low to the $121.67 swing high also acted as another strong support region for the pair.

Litecoin Price Prediction 2019: Litecoin Price Formed a Bullish Trend at $111.00

About the crucial bullish trend line that is forming for LTC via the 4-hour chart, it has found support at $111.00. For the 100 simple moving average via the 4-hour chart as well, the mentioned SMA is near $110.00 to act as support.

Therefore, LTC price remains in a well-supported position via the downside near $110.00. For the upside, the primary resistances for the coin are near the $120.00 position and $122.00 level.

If there’s an upside break over the $122.00 point, Litecoin price could even accelerate further higher. At this point, the next key resistance areas for the LTC bulls will be near $125.00. Above which, Litecoin price could rally towards $130.00 in the near term. Will the LTC bulls manage to pullout a fresh increase above the $120 price position? This action is still in the works and purely a prediction as of June 10. We can wait with a keen eye for any possible outcome. Hopefully, it will be favorable.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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