Litecoin market overview: LTC/USD upside capped at $100

  • LTC/USD corrected to the support at $95 before relaunching another attack on $105.
  • Litecoin expected to consolidate between $95 and $100 in the coming sessions.

Litecoin has decided to play it safe after an unsuccessful attack on $105 resistance. The declines from July 10 explored the levels under $100. A low was formed at $77.50 before the bears started to retreat as reported by FXStreet.

The bounce from the support last week stepped above the moving averages initially before struggling with the resistance at $95. The first assault at $100 tested $105 but failed to make further movement north. LTC/USD corrected to the support at $95 before relaunching another attack on $105.

At press time, Litecoin upside has been capped at $100 with the trend have a bearish bias. The failure to sustain the gains above $100 has demoralized the bulls who are likely to retreat to create fresh demand at a lower level probably around $95.

Also read: Crypto-related crimes cost South Korea $2.3 billion

The technical picture is slightly negative as well with the slow stochastic oscillator pointing downwards from at 40 from highs around 75. The Moving Average Convergence Divergence (MACD) is moving sideways along the mean line as an indicator for ranging trend in the coming sessions. Therefore, we can expect Litecoin to consolidate between $95 and $100 in the coming sessions before the next assault at $105 hurdle.

LTC/USD 1-h 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin unstoppable push to $12,000, China piloting digital currency in cities

BTC/USD again failed in the journey to overcome the resistance at $12,000. The bullish leg made it above the resistance at $11,600 but hit the next hurdle at $11,800.

More Bitcoin News

XRP/USD on the verge of a triangle breakout, is $0.32 within reach?

Ripple price has been narrowing within a falling triangle pattern for two weeks now. The retreat followed an impressive price action that has seen XRP rally from July lows at $0.1740. 

More Ripple News

ETH/USD persistent bullish push yields breakout to two-year high

Ethereum rallied to a two year high this week after stepping above $430. However, the rising value of Ether has not shifted the attention from the skyrocketing gas fees that are now said to be hurting the decentralized finance ecosystem.

More Ethereum News

Cardano Market Update: Bulls stay in control as staked ADA count crosses ten billion

With over ten billion ADA being staked and more than 920 active staking pools, Cardano appears to have reached a new milestone. After the recent Shelley upgrade, users have been able to stake their ADA ...

More TRON news


Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast