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

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

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: $9200 is the level to beat for the BTC bulls

Bitcoin (BTC/USD) has entered a phase of consolidation after reversing sharply from the late-Saturday spike to $9195.19 highs. The choppy trend is likely to extend until a fresh volatility wave hits the crypto space again. Markets await a strong catalyst to revive the near-term bullish momentum.

More Bitcoin News

Bitcoin Cash: Downside appears compelling amid bearish technical set up

BCH/USD is seeing aggressive selling over the last hour, after having witnessed a volatile session late Saturday. The coin is teasing an ascending triangle on the hourly chart. Hourly RSI has pierced 50.00 from above, more losses likely?

More Bitcoin Cash News

XRP/USD remains bearish while below 21-DMA

Ripple’s range trade extends into the seventh day on Saturday. The coin looks promising but above the 21-DMA barrier. RSI on the daily chart holds in the bearish territory. US traders are away, celebrating the Independence Day long weekend. 

More Ripple News

Top 3 Price Prediction BTC, ETH, XRP: Crypto bears return starting out a fresh week

Bears are back amid a fresh selling wave across the crypto board. Bitcoin eyes Thursday’s low amid lack of healthy supports. Ethereum breaches key support, paving way for extra declines. Ripple is ranging in a tight band around 0.1770 so far this Sunday. 

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast