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Litecoin Price Forecast – Price Surges Bullish Breakthrough Soon.
2021-12-21 | Daniel Smith
Litecoin Price Forecast – Price Surges Bullish Breakthrough Soon.
December 21, 2021 | Daniel Smith
The technical chart of Litecoin (LTC/USD) shows a brief downturn. The coin began a modest downturn in mid-November, which lasted longer than some crypto experts predicted. The price has dropped to $140, where it is resonating in the near term, bracing for its upcoming step.
Productivity in the past or tendency
The Litecoin currency is now on a roller coaster trip over the last three months, with the latest adjustment phase wiping out all of the gains made in October and initial November. The price has dropped roughly 51% from its last high of $296 and is presently trading over the $150 support level.
Bullish RSI Deviation Indicates an Increased Rally in LTC
LTC/USD 1 DAY PRICE CHART; SOURCE – COINMAKETCAP.COM
For the previous three weeks, the Litecoin price has oscillated around $166.5 and $141, resulting in a tight range. When the price breaks any of the other borderlines during a consolidation period, traders have a great trending chance.
In addition, the coin shows a collapsing wedge pattern on the 4-hour time frame chart. The price produced a clear breakthrough from the opposition trendline on December 19th, giving a higher opportunity for the price to attack the overhead barrier of $166.5.
The present price of Litecoin is $154.90, representing a -1.68 percent price fall. The 24-hour volume shift is $1.55 billion, representing a 60% increase. According to Coinmarketcap, the coins are ranked 18th with a market cap of $10,693,292,657 (-1.70%).
Measures of Technical Strength
- The daily Relative Strength Index (41) shows a clear bullish differential in its chart, showing that coin purchasers are becoming more powerful.
- LTC coin price is falling underneath the critical EMAs (20, 50, 100, and 200), suggesting that the overall pattern is bearish. Furthermore, the chart depicts a deadly crossover of the 50 and 200 EMA.
- According to the 4-hour chart’s usual pivot levels, coin traders should anticipate the closest barrier for the Litecoin price at $157, followed by $172. On the other hand, the support levels include $143.5 and $128.5.
