- The currency is positioned between support at $64.00 and resistance at $67.00. A definitive break of one of these levels will indicate a new direction for the currency.
- Litecoin has dipped below a long-term uptrend channel, indicating an initially weaker upward momentum. The currency has slightly broken above the $65.00 resistance level.
- The current Litecoin price is $65.79 USD, with a 24-hour trading volume of $224,634,177 USD. Litecoin has lost 1.26% in the last 24 hours.
Litecoin (LTC) needs to successfully break important resistance levels to initiate its upward movement: Analysis of LTC’s short, medium, and long-term outlook!
Short-Term LTC Analysis
Litecoin (LTC) has broken a short-term horizontal trend channel to the upside. This indicates an ongoing strong development, and the currency now finds support below trendlines in possible reactions. Additionally, the upward break of the $66.24 resistance from the inverse head and shoulders formation has provided a positive signal. Further upside is indicated, targeting $74.61 or more.
The currency is positioned between support at $64.00 and resistance at $67.00. A definitive break of one of these levels will indicate a new direction for the currency. RSI is showing a negative divergence from the price, indicating a potential downward reaction. In the short term, the currency is generally considered technically positive.
Medium-Term LTC Analysis
Litecoin has overcome the upper limit of the medium-term downtrend channel. This initially suggests a slower decline or the beginning of a more horizontal development. The currency has also given a positive signal from the upward break of the $66.24 resistance from the inverse head and shoulders formation. Further upside is indicated, targeting $74.61 or more. There is no support on the price chart, suggesting further decline. In the case of a positive reaction, the currency faces resistance at $78.00. High volume at previous price peaks and low volume at price bottoms strengthen the currency. In the medium term, the currency is generally considered technically neutral.
Long-Term LTC Analysis
Litecoin has moved below a long-term uptrend channel, indicating initially weaker upward momentum. The currency has slightly broken above the $65.00 resistance level, signaling further upside potential. In the long term, the currency is generally considered technically positive.
Litecoin Price
The current Litecoin price is $65.79 USD, with a 24-hour trading volume of $224,634,177 USD. Litecoin has lost 1.26% in the last 24 hours. According to the current CoinMarketCap ranking, Litecoin is ranked 15th with a market value of $4,850,339,028 USD. There are 73,720,902 LTC tokens in circulation, with a maximum supply of 84,000,000 LTC tokens.
