• LTC/USD has recovered from the recent low, $100 keeps bulls at bay.
  • The initial support is created by $97.20 handle.

Litecoin has been sidelined for the recent four days, capped by SMA100 (Simple Moving Average) currently at $102.76. The fourth-largest digital asset with the current market capitalization of $6.2 billion has gained nearly 10% in recent seven days to become of of the best-performing coins out of top-10. 

LTC/USD bottomed out at $76.82 on July 16 and recovered to $105.87 by July 19. However, the upside momentum has been fading away since that time.

Litecoin's is halving is getting closer, which means that the coin may become more volatile ahead of the event.

Read more details here

Litecoin's technical picture

Litecoin bulls managed to push the coin above $100.00, but the upside proved to be unsustainable so far.We will need to see a strong move above mentioned SMA100 on a daily chart (currently at $102.76) to get the recovery back on track and unlock the way towards the next large barrier created by $117.5 (23.6% Fibo retracements for the upside move from $22.88 low). This area is strengthened by SMA50 daily located at $118.62. The initial resistance is created by psychological $120.00. 


On the downside, a move below $97.20 (SMA100 weekly) may trigger an extended sell-off towards the next psychological barrier at $90.00, followed by 50% Fibo retracements for the above-said move at intraday low of $84.65, The ultimate support awaits us at $76.62 (the recent low) and $76.22 (SMA200 daily).

LTC/USD, 1-day 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. 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crossroads in the war for dominance

At the beginning of the day, the crypto market is awaiting the resolution of two critical technical events for the development of prices in the short and medium-term.

More Bitcoin News

XRP/USD bounces off $0.20 only to run into trendline resistance

Ripple has started to nurture a consolidative move between $0.20 support and $0.21 resistance. Earlier this week, the price spiked above $0.215 but failed to overcome the resistance at the descending trendline. 

More Ripple News

Cardano Market Analysis: ADA/USD rushes to the North as Shelly update looms

The price of Cardano (ADA) has been on fire. The price increased from $0.4950 on May 21 to $0.0889 by press time. Moreover, the coin tested $0.0900 during early Asian hours, which is the highest level since June 28, 2019. 

More Cardano News

LTC/USD resumes the recovery after sell-off, $48.00 in focus

Litecoin (LTC) attempted a recovery above $48.00 during early Asian hours on Thursday, but failed to hold the ground and dropped to as low as $46.26 (intraday low).

More Litecoin News


Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast