Litecoin price seems to be consolidating against the US Dollar, while bitcoin is climbing. LTC price remains well supported on the downside near $71.20 and $70.80<\/p>\n
This past week, there was a sharp upward move in litecoin price above the $75.00 and $76.50 resistances against the US Dollar. The LTC\/USD pair even broke the $80.00 resistance and 55 simple moving average (4-hours). As a result, a new monthly high was formed at $81.63 and later the price corrected lower sharply. It broke the $76.50 support level, and the 50% Fib retracement level of the key upside from the $64.93 swing low to $81.63 high. There was even a spike below the $72.00 level and the 55 simple moving average (4-hours).<\/p>\n
However, the $71.20 and $70.80 levels acted as strong supports. Besides, the 61.8% Fib retracement level of the key upside from the $64.93 swing low to $81.63 high acted as a support. The price tested the $71.20 support on a few occasions and it recently climbed higher. Bitcoin price recently climbed to a new 2019 high, pushing litecoin above $74.00 and the 55 simple moving average (4-hours).<\/p>\n
On the upside, there are many resistances near the $76.00, $76.50 and $76.80 levels. There is also a major bearish trend line formed with resistance at $76.80 on the 4-hours chart of the LTC\/USD pair. Therefore, it wont be easy for the bulls to clear the $76.50 and $76.80 resistances in one attempt. Above the $76.80 and $77.00 levels, the price is likely to trade towards $80.00, $81.50 or even $84.00.<\/p>\n<\/p>\n
Looking at the chart, litecoin price is clearly trading above a strong support area near $61.20. Therefore, dips remain attractive to the bulls near the $62.00 and $61.20 levels. As long as the price is above $61.20 and $60.80, it could break the $76.80 resistance. If not, there is a risk of a sharp decline below the $70.00 and $68.00 support levels.<\/p>\n
4 hours MACD The MACD for LTC\/USD is slowly gaining pace in the bullish zone, but the momentum is not convincing.<\/p>\n
4 hours RSI (Relative Strength Index) The RSI for LTC\/USD is currently testing the 50 level, with a bearish angle.<\/p>\n
Key Support Levels $72.00 and $71.20.<\/p>\n
Key Resistance Levels $76.80 and $80.00.<\/p>\n
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Litecoin (LTC) Price Analysis: Dips Remain Attractive To ...<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Litecoin price seems to be consolidating against the US Dollar, while bitcoin is climbing. LTC price remains well supported on the downside near $71.20 and $70.80 This past week, there was a sharp upward move in litecoin price above the $75.00 and $76.50 resistances against the US Dollar Continue reading