• 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 price prediction Bitcoin, Ethereum, Ripple: Market ready to launch, not knowing who will lead it

One of these stories is the intense and profound relationship between Ethereum and Bitcoin. The story approaches a moment of decision, where what happens can mark the future.

More Bitcoin News

Ethereum Price Analysis: ETH/USD reverses Sunday gains as Istanbul-inspired enthusiasm is over

ETH/USD has retreated from the recent high of $152.14 reached on Sunday, following the successful Istanbul upgrade.

More Ethereum News

IOTA price analysis: IOT/USD loses ground, ignores positive fundamentals

IOTA is flashing with red colors. The coin retreated from the 18th position a month ago to 20th place in the global cryptocurrency rating amid strong bearish sentiments.

More IOTA News

Tezos Price Analysis: Whales send XTZ/USD to multi-month high

Tezos  (XTZ) is the best-performing digital asset today. The coin has gained over 6% of its value in recent 24 hours while all Bitcoin and all major altcoins have stayed in tight ranges amid low trading activity. 

More Tezos News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast