Litecoin Price Analysis - LTC/USD Show Strong Signs Of Support.

Litecoin Price Analysis - LTC/USD Show Strong Signs Of Support.

2021-11-15 | Daniel Smith

Litecoin Price Analysis - LTC/USD Show Strong Signs Of Support.

The Litecoin (LTC) analysis for today is bullish. Other technical indicators, however, are indicating a positive trend for the upcoming week. LTC/USD still has a long way to go before it can be compared to positive market indices. Litecoin's price has recently risen sharply from its current support level to $270 USD, finally setting an all-time high. Since then, we've witnessed the unavoidable correction as a result of the huge bearish volume. The coin is still attempting to find stability, with the remaining volume remaining high. The coin had a sharp increase after touching its current support level of $260 USD. This same area has been found to be powerful enough to stymie market advancement. Today's Litecoin price movement has generated many bullish indications on the 4-hour chart, which could lead to another gain over the weekend. Litecoin price analysis reveals the coin's complexities in breaching critical resistance levels. If history is any guide, we should expect more downward pressure on the 4-hour LTC/USD chart. Litecoin Price Analysis - LTC/USD Show Strong Signs Of Support.

Litecoin Price Chart - Source: CoinMarketCap

The MACD indicator is starting to fall and eventually reaches zero. The volume is still high, and we expect it to rise if one leg in this market fails. The LTC price movement this week has been characterized by strong bullish momentum. Following a period of mostly trading in recent weeks, LTC/USD initiated a new dramatic $190 USD drop last weekend, creating renewed interest. The LTC/USD pair began to increase on Monday, with the $280 USD milestone rising significantly. Later this week, another square will be added, raising the next price pump to $300. Since the beginning of April, the price of Litecoin has been bouncing between $240 USD and $285 USD. Since then, the price has returned to the $255 test support level. LTC/USD attempted to advance overnight, reaching $280 USD before swiftly falling back to the $ 255 support level. At the reporting time, Litecoin is presently trading at a price of around $272 USD, which is +10% up for the day. The $300 USD surge has been powerful for LTC, but the bulls will soon face key support levels around $270 USD and $280 USD, which are too strong to break today.

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