Litecoin Price Analysis: LTC/USD bumpy ride stalls at $75 as bears swing in action
- Litecoin bulls risk losing control entirely to the bulls, especially if the support at $70 is broken.
- The 50 SMA is in line to offer support if the key ascending channel support gives to selling pressure.
Spot rate: $73
Relative change: -.2392
Percentage change: -1.67%
Trend: Bullish bias
Volatility: High
LTC/USD daily chart
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Litecoin price lock-step upward trend stalls at $75, leaving room for the bears to breathe.
The formed rising wedge pattern hints that a reversal could be imminent in the near term.
LTC/USD 4-hour chart
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Litecoin price sustains the uptrend in an ascending channel in spite of the up and down movements.
If the ongoing slump bounces off the channel support, LTC/USD could resume the uptrend above $75.
LTC/USD 1-hour chart
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Litecoin is trading between the 50 SMA resistance and the 200 SMA support.
The main resistance at $75 must come down for Litecoin bulls to focus on higher levels towards $100.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
