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
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.