Litecoin price evaluation reveals that the coin has had a bullish begin to the day after a quick spell of consolidation yesterday. The cryptocurrency is now buying and selling at $56.65, which is just under the intraday excessive of $57.46.The LTC/USD pair is up by 0.50% on the day and is buying and selling within the inexperienced on all timeframes. The 24-hour buying and selling quantity is $439 million, and the market capitalization is $4.01 billion.
The bulls will probably be trying to push costs greater and break above the resistance at $57.46. If they’re profitable, the following goal for the bulls will probably be $59.00. However, if the bears defend the resistance at $57.46, Litecoin costs may retrace to $56.10 the place they’ll discover assist.
LTC/USD 4-hour worth chart: Current replace
On the 4-hour chart, Litecoin price evaluation has fashioned a bullish ascending channel. The cryptocurrency is at the moment buying and selling on the prime of the channel and appears set to maneuver greater. Nevertheless, the bulls will should be cautious because the bears may defend the resistance at $57.46 and push costs again all the way down to $56.10. The market is at the moment within the fingers of the bulls, and Litecoin costs are prone to transfer greater within the close to time period.
Litecoin worth evaluation reveals that the coin has had a bullish begin to the day because the MACD indicator reveals rising bullish momentum. The RSI indicator can also be within the overbought area, which means that costs may retrace within the close to time period. The 50-day and 200-day easy transferring averages (SMAs) are each flat, which means that the market is in a consolidation section.
Litecoin worth evaluation 1-day worth chart: LTC/USD dealing with resistance at $57.46
The 1-day Litecoin worth chart reveals that the cryptocurrency has been in a robust uptrend during the last 24-hours because it appears to proceed its bullish momentum. After discovering resistance at $57.46, costs have retraced to $56.65 the place they’re at the moment buying and selling. The bulls will probably be trying to push costs greater and break above the resistance at $57.46.
The 1-day MACD indicator is bullish because the sign line is above the histogram. The RSI indicator is at the moment at 63.16 and indicating the market is in bull territory. The 50-day SMA is at the moment at $54.32, and the 200-day SMA is at $51.68. This implies that the market is in a robust uptrend as costs proceed to maneuver greater.
Litecoin worth evaluation conclusion
Total, Litecoin worth evaluation is bullish right this moment because the market appears to proceed its uptrend. The technical indicator on each the 1-day and 4-hour timeframe is bullish, which means that costs may transfer greater within the close to time period. The bulls will probably be trying to push costs above the resistance at $57.46 whereas the bears will look to defend this degree and push costs again all the way down to $56.10.
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