Tanya Abrosimova
Independent Analyst
- LTC/USD tries to develop an upside momentum within a range.
- The key resistance comes at $100.00.
Litecoin, now the 6th largest cryptocurrency with the current market capitalization of $5.6 billion, has been sitting in a tight range limited by $90.00 on the downside and $93.00 on the upside. LTC is mostly unchanged both since this time on Monday and since the beginning of the day. An average daily trading volume is registered at $3.3 billion, with over 50% of the total trading volume coming from cryptocurrency exchange platform P2PB2B. LTC is most actively traded against Bitcoin and USDT.
Litecoin's technical picture
The local support for the coin is created by the above mentioned psychological handle $90.00, strengthened by 23/6% Fibo retracement. Once it is cleared, the sell-off is likely to gain traction with the next focus on $85.00 (SMA100 4-hour) closely followed by $84.30 (38.2% Fibo retracement). This area is likely to trigger the recovery process as it has stopped the sell-off twice in May.
On the upside, we need to see a sustainable move above $93.00 for the recovery to gain traction. The next resistance awaits the coin at $97.00 ( this barrier is strengthened by May 19 high), while a critical hurdle is seen at $100.00.
LTC/USD, 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto morning: Bitcoin's bullish surge, Fidelity's Ethereum leap, Trump-backed WLF's $3M MNT buy
Bitcoin traders are reacting positively to the US Federal Reserve’s (Fed) policy shift. As BTC hovers around the $88,000 level on Monday, analysts are optimistic about Bitcoin price gains this week. Technical analysis supports Bitcoin’s bullish thesis.
Dogecoin remains brand leader in meme coins – Fei Chen, Founder and CEO of Intellectia AI
Dogecoin open interest plunged to a near four-month low in mid-March before beginning a slow recovery. Mr. Fei Chen, founder and CEO of Intellectia AI, shared his thoughts on Dogecoin, a potential DOGE ETF, and the likelihood of DOGE inclusion in a US Strategic Crypto Reserve in an interview.
Bitcoin could hit $110,000, supported by the Fed’s dovish stance and Trump’s flexibility on tariffs
Bitcoin price extends its gains and trade above $87,400 at the time of writing on Monday after recovering 4.25% last week. BitMEX co-founder Arthur Hayes predicts that BTC could hit $110,000 before retracing to $76,500, supported by the US Fed's dovish stance on inflation and US President Donald Trump’s flexibility on tariffs.
Solana bull aims for $160 mark as White House narrows April 2 tariffs
Solana’s price extends its gains on Monday after recovering 5.32% last week. Reports suggest that the White House is narrowing its approach to tariffs set to take effect on April 2, likely omitting a set of industry-specific tariffs.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.