Litecoin (LTC) price analysis: LTC/USD moves above $75.00, improves the technical picture


  • The 5th largest asset is one of the best-performing coins on Monday. 
  • LTC/USD needs to clear $76.50 to extend the recovery. 

Litecoin (LTC) touched $76.47 during early Asian hours and retraces to $74.75 by the time of writing. The fifth largest digital asset with the current market value of $4.54B has been moving in sync with the rest of the cryptocurrency market. The coin has gained 7% in recent 24 hours.  

It is worth noting that LTC is mostly unchanged in recent seven days, and down 25% from the recent high of $99.47 reached on April 3.  

On the intraday charts, the price has moved above the sloping trendline from the recent high. THis development improved the technical picture, though the further upside may be capped by $76.30-$76.50 (SMA100, 4-hour). Once it is cleared, the recovery may be extended towards psychological $77.00 and $77.50 (SMA200, 4-hour). 

On the downside the critical barrier is created by a confluence of SMA50 (4-hour), and the sloping trendline from April 3 peak at $73.00. A sustainable move lower will bring us to $71.00 handle with a confluence of SMA50 and SMA100 (1-hour) located under this level. 

Meanwhile, a sustainable move below $68.35 increase the bearish pressure with the next aim at $60.00, followed by DMA100 currently at $56.60.

LTC/USD, 4-hour chart 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: November fails to impress, what about an action-filled December 2019?

Bitcoin is staring into a bottomless pit mid though the month of November. The past two years have seen Bitcoin start to stir movement upwards in November.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from early losses

The cryptocurrency market is navigating a sea of red on Friday. Bitcoin and all major altcoins are nursing losses both on a day-to-day basis and since the beginning of the day.

More Cryptocurrencies News

XRP/USD on the verge of a falling wedge pattern breakout

Ripple is trading below a key support week-long support at $0.27. The selling pressure on Thursday forced the price lower refreshing the levels towards $0.26. XRP commenced the trading on Friday at $0.2679 and touched a high of $0.2690.

More Ripple News

Litecoin price update: LTC/USD takes back $60 support, is $65 hurdle breakable?

Litecoin is in the middle of a recovery move following the recent slide below $60. The accrued gains chopping exercise that has been going on since the week started after another failed attempt to correct towards $65.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: In the middle of nowhere

Bitcoin has been drifting down since the beginning of the week, as the bulls have no luck with the recovery campaign launched during the previous weekend.

Read the weekly forecast

BTC

ETH

XRP