- The Litecoin price is trading at $88.01 with an intraday loss of 3.11%.
- The LTC price took a rebound from the 20-day EMA and resumed its way toward the $100 hurdle.
The Litecoin (LTC) crypto price has been in a bullish trend and has risen by 30% in a month. This coin’s price has formed a symmetrical triangle pattern and triggered a pullback, resulting in a buying momentum.
The LTC coin price is moving above the 20-day and the 200-day EMAs, highlighting an uptrend. Both EMAs made a bullish crossover at the $83.24 level, which boosted the LTC price in recent trading sessions. The 20-day EMA is at $82.13, and the 200-day is moving at $73.49.
Technical Analysis of LTC on a Daily Timeframe
Based on the chart, the Litecoin price has been bullish and knocked the $90 hurdle. It has engulfed the previous candlestick and shows the sellers’ interference. The price seems stuck between $94 and $81, and it may be tough to break these levels.
If the LTC crypto price surpasses the resistance level of $94 and sustains, buyers may eye the $100 hurdle. However, selling momentum can be expected if the price rises to the recent high and forms a bearish candlestick.
On the other hand, if the LTC crypto price slips below the 20-day moving average and sustains, selling pressure can be observed. However, if it fails to defend the 200-day EMA, investors may prefer to square off their existing long position. It may result in a sharp fall in the price.
Litecoin Price Technical Analysis on a 4-H Timeframe
The Litecoin crypto price is trading at $86.43, which has dropped by 1.15% in the last 24 hours. The market capitalization of LTC is $6.42 billion, and according to the market cap, it ranks 20th in the cryptocurrency market. The 24-hour trading volume is $509.14 million.
LTC price has formed a double-top pattern, slipping below the 20-day moving average. Currently, the price is heading for the 200-day exponential moving average. The price may take support near the $75 hurdle.
Suppose it fails to defend the $75 mark; a bearish trend for the next few weeks can be expected, and sellers may dominate further.
Conclusion
Litecoin crypto price has been bullish for the last few weeks and has displayed a directional move. The price could not surpass the $90 hurdle as sellers participated in the game. The sellers have dragged down the price by 6% in the last few hours. In a 4-H time frame, the price has formed a double-top pattern and slipped below the 20-day moving average.
Technical Levels
Resistance: $91.00 & $94.00
Support: $82.75 & $75.00
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.