Litecoin Price Analysis: LTC bulls battle eight-month-old resistance line

  • LTC/USD eases from the highest since late-February, keeps the 70.00 threshold.
  • Overbought RSI, failures to cross the key resistance line lure high-risk sellers.

LTC/USD steps back from the multi-day high to 76.67 as buyers catch a breather by Monday’s end. Even so, the quote marks over 13.00% gains while stepping back from an upward sloping trend line from March 07, 2020.

Not only the failures to cross the key resistance line but overbought RSI conditions also push brakes on the crypto major’s further buying. Though, the quote stays above the 70.00 round-figure, which in turn serves as a trigger for the fresh short-term selling.

Should LTC/USD bears manage to keep the reins below the 70.00 threshold, Friday’s peak near 66.65 and the early-November high around 64.75 can entertain them ahead of highlighting a two-week-old support line, currently near 60.70.

On the contrary, a clear run-up past-71.85 level, comprising the stated resistance line, will escalate the trading momentum towards the 80.00 psychological magnet.

Though, February 23 peak and the yearly top, respectively around 80.50 and 84.40, can please the LTC/USD optimists afterward.

LTC/USD daily chart

Trend: Pullback expected

Additional important levels

Today last price 70.5266
Today Daily Change 8.1687
Today Daily Change % 13.10%
Today daily open 62.3579
Daily SMA20 58.4306
Daily SMA50 52.88
Daily SMA100 53.376
Daily SMA200 49.6679
Previous Daily High 64.4597
Previous Daily Low 61.1117
Previous Weekly High 66.6348
Previous Weekly Low 57.152
Previous Monthly High 60.6599
Previous Monthly Low 43.444
Daily Fibonacci 38.2% 62.3907
Daily Fibonacci 61.8% 63.1808
Daily Pivot Point S1 60.8265
Daily Pivot Point S2 59.2951
Daily Pivot Point S3 57.4784
Daily Pivot Point R1 64.1745
Daily Pivot Point R2 65.9911
Daily Pivot Point R3 67.5225



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Dogecoin Price Forecast: DOGE to retest critical support before overcoming doubt

Dogecoin price has formed an uptrend since July 21, breaking out from a downward trapped DOGE for nearly a month. The canine-themed cryptocurrency rec

More Dogecoin News

Chainlink VRF integration improves as LINK price eyes 30% upswing

Chainlink price has seen an impressive run-up over the past week, but it has been able to breach through a crucial supply barrier. The recent pullback stems from an inability to slice through the said resistance zone.

More Chainlink News

Goldman Sachs files for new DeFi ETF with SEC that tracks only major stocks

Goldman Sachs has filed an application with the United States Securities & Exchange Commission (SEC) for a new decentralized finance and blockchain-based exchange-traded fund (ETF). 

More Cryptocurrencies News

Zilliqa to Ethereum bridge delayed but ZIL price eyes retest of $0.086

Zilliqa price is currently approaching a crucial support level that could trigger a bounce, leading to a new uptrend. However, there are chances of this barrier failing under increased selling pressure. Therefore, investors need to keep a close eye on the bounce.

More Zilliqa News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast