|

Litecoin Price Analysis: LTC/USD unable to escape the narrow range resistance

  • Litecoin price embraces consolidation following the devastating drop over the weekend.
  • LTC/USD technical picture remains intact as observed with the MACD’s bullish divergence.

Litecoin dived under $40 last week amid a Bitcoin-triggered selloff. Immediately the price recovered above $40, however, the momentum lost steam at $43. At the time of writing, LTC/USD is dancing at $42.30. Multiple attempts made to clear the resistance at $43 have been thwarted. The narrow range resistance will require a catalyst to clear it and once again place Litecoin in a trajectory to levels above $50.

The ongoing consolidation is likely to carry on based on the trend seen with the Relative Strength Index (RSI) which is leveling at 41. Interestingly, the MACD displays a positive picture for LTC as it grinds towards the mean line. It has also sustained a bullish divergence to emphasize that the bulls are in the control.  For now, the best the bulls can do is to hold above the range support at $41 as they anticipate the right volume to pull Litecoin upwards.

Litecoin intraday levels

Spot rate: $42.17

Relative change: -0.085

Percentage change: -0.16%

Trend: Bearish

Volatility: Low

LTC/USD 4-hour chart

LTC/USD price chart

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face pressure near key technical barriers

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday after correcting slightly in the previous week. The top three cryptocurrencies by market capitalization could face increased downside risk as bearish momentum builds across key indicators.

Top Crypto Losers: DASH, SPX, PENGU – Privacy and meme coins lose ground

Altcoins, including Dash (DASH), SPX6900 (SPX), and Pudgy Penguins (PENGU), are leading losses as the broader cryptocurrency market remains cautious ahead of the macroeconomic data releases, such as the US Nonfarm payroll report, CPI data, and the Bank of Japan’s rate-hike decision.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.