Litecoin price analysis: LTC/USD sits comfortably above $80.00

  • LTC/USD formed a high at $81.92 before reverting to the current value of $80.92.
  • Litecoin is poised to move sideways in the short-term even as technical stay positive.

LTC/USD has been trading sideways above key support established at $75.00 following the drop on April 11. The upside was limited under the descending trendline until the breakout that occurred today, Thursday 18.

Further upside movement stepped above the 50 simple moving average (SMA) 2-hour chart opened the door for a correction above resistance at $80.00. The buyers increased their grip which led to a spike above the 100 SMA 2-hour. LTC/USD formed a high at $81.92 before reverting to the current value of $80.92.

According to the relative strength index (RSI) which is horizontal at 56.25, the price is poised to move sideways in the short-term. The indicator has been averaging around 50.00 to show that Litecoin technical structure is still positive although the upside has been capped below $85.00. Another indicator for sideways trading is the MACD which currently hugs the mean line.

The former resistance level at $80.00 will function as support. The 100 SMA and the 50 SMA in the 2-hour range will also work to prevent declines below $80.00. However, the key support is observed at $75.00.

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

Bitcoin price prediction: November fails to impress, what about an action-filled December 2019?

Bitcoin is staring into a bottomless pit mid though the month of November. The past two years have seen Bitcoin start to stir movement upwards in November.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from early losses

The cryptocurrency market is navigating a sea of red on Friday. Bitcoin and all major altcoins are nursing losses both on a day-to-day basis and since the beginning of the day.

More Cryptocurrencies News

XRP/USD on the verge of a falling wedge pattern breakout

Ripple is trading below a key support week-long support at $0.27. The selling pressure on Thursday forced the price lower refreshing the levels towards $0.26. XRP commenced the trading on Friday at $0.2679 and touched a high of $0.2690.

More Ripple News

Litecoin price update: LTC/USD takes back $60 support, is $65 hurdle breakable?

Litecoin is in the middle of a recovery move following the recent slide below $60. The accrued gains chopping exercise that has been going on since the week started after another failed attempt to correct towards $65.

More Litecoin News


Bitcoin Weekly Forecast: In the middle of nowhere

Bitcoin has been drifting down since the beginning of the week, as the bulls have no luck with the recovery campaign launched during the previous weekend.

Read the weekly forecast