• 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD jumps on US-China trade war escalation

Bitcoin (BTC) has built up a strong upside momentum during early Asian hours on Monday. The first digital coin has recovered from $9,900 and hit $10,665 high in a matter of hours amid strong bullish sentiments and growing trading volumes.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from Sunday’s sell-off

The cryptocurrency market is recovering down during early Asian hours with Bitcoin and the vast majority of altcoins navigating the green zone. The total market capitalization has settled at $268.9 billion

More Cryptocurrencies News

Litecoin price analysis: LTC/USD regains some ground, still below critical $80.00

At the time of writing, LTC/USD is changing hands at $74.30. The coin recovered above $74.00 during early Asian hours amid strong bullish momentum on the cryptocurrency market. 

More Litecoin News

Ripple technical analysis: XRP/USD sustained uptrend hints breakout above $0.3

Ripple price is lethargic under $0.28 short-term hurdle but $0.27 is a credible support area in the short-term. Despite the visible declines in the short timeframe charts, XRP/USD has sustained an uptrend from August lows close to $0.24.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

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

BTC

ETH

XRP