Litecoin price analysis: LTC/USD rebounds after a stormy night

  • LTC/USD broke above $100 for the first time in 2019.
  • Litecoin also reacted in tandem recording losses below the rising trendline.

The cryptocurrency industry is just coming from a sudden stormy night. Litecoin is among the biggest daily losers on the market has lost 7.7% on the day. The losses come after altcoins alongside Litecoin experienced the most impressive rally this year. LTC/USD broke above $100 for the first time in 2019. In fact, it formed highs around $106.84 before reversing the trend.

There was a correction on Thursday where Bitcoin dropped below $8,000 testing the lows at $7,750. Litecoin also reacted in tandem recording losses below the rising trendline. There was a drop below the 38.2% Fib level between the last high at $106.84 and a low of $86.91.

Presently, Litecoin is trading at $95 after a slight correction. Support has been established at $92.00. The RSI is reversing from the oversold while the MACD is now horizontal at -1.7. In the coming sessions, Litecoin will stay in the range between $90.00 and $100.00.

LTC/USD 1-hour 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

BTC/USD shoots higher following Bakkt news

Above is the 5-minute BTC/USD chart which shows the powerful surge in volume when the Bakkt announcement was made. The arrow shows the exact time of the release, prior to the story BTC/USD was trading close to 10,000.00 and bouncing off the mean value price for the day. 

More Bitcoin News

Ripple price analysis: Confluence detector shows a lack of healthy resistance and support levels

Ripple is currently trending in a flag formation and is priced at $0.259. This Thursday, the bulls kicked in after the price fell to $0.242 and took the price up to $0.264. 

More Ripple News

Cardano Foundation partners with Berlin blockchain venture studio Konfidio, market reaction muted

The Cardano Foundation revealed that they have partnered up with Berlin blockchain venture studio Konfidio. The main aim of the partnership will be to execute real-world business cases on the Cardano blockchain. According to their announcement:

More Cardano News

Ethereum: ETH/USD bear trapped below broken support range

Ethereum defended the support at $170 before a shallow recovery pulled the price above $180. ETH/USD must reclaim position in the broken support range between $190 - $200.

More Ethereum News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast