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20 October 2021
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Litecoin Price Analysis: LTC Regaining Its Bullish Regime


  • Litecoin price performed with positive momentum on Thursday’s trading session
  • Litecoin price is currently at $128.84, which is up by 2.20% in last the 24 hours and 4.85% down from the previous week
  • LTC/BTC pair also performs positive with a gain of 1.93% in Thursday’s trading session (0.004112)
Source: Coinmarketcap

Litecoin price was in positive momentum on the weekly chart and went up to $185.78 on January 10, 2021, by breaking above the resistance zones created in the past. LTC price set up a mark of 52-weeks high with the help of overall market conditions. The LTC/ETH pair is in an uptrend with a value of 1.24% in Thursday’s trading session (0.09972).

Litecoin Technical Chart Indicates Bullish Behaviour

Source: TradingView

The daily technical chart of Litecoin price highlights a positive trend due to overall market conditions on Thursday’s trading session. The price is currently sitting at $128.84, with a resistance zone of $131.80, following the support zone of $125.43. On diving into the weekly chart of a 30-minute time frame, it formed a three black crows candlestick pattern indicating a sell signal in the coin.

If we look at 20 & 50 days, the exponential moving average (EMA), 20 EMA (blue line) is at $128.91, and 50 EMA (purple line) is $132.66. The price is between both the EMA one can expect a bullish trend in the coin if it breaks above 50 EMA.

The Volume indicator of value (13.575K) reflects an average selling volume in the coin due to the overall market’s condition. We can further see a decrease in volume in Thursday’s trading session.

MACD indicator (Bullish) one cannot observe any bearish crossover on the signal line on January 28, 2021, during the trading session. This indicates a buy signal in the coin and also observes increasing green bars in the Histogram.

Meanwhile, the RSI indicator (Neutral) with a value of 50.51 indicates a neutral signal in the coin. It may soon move towards the bullish territory in upcoming trading sessions if buying continues further.

Conclusion 

Litecoin price is up by 2.20% on Thursday’s trading session. The price is between 20 and 50 days EMA, if it breaches above 50 EMA it can move towards the resistance level of $131.80. One can further expect a short term recovery in the coin for a while, and then it can be bullish in the upcoming trading session.

Resistance: $131.80

Support: $125.43

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