Litecoin Technical Analysis: LTC/USD bounces off channel support, rendezvous at $50

  • Litecoin is trading between the 50-day SMA support and the 200-day SMA resistance.
  • LTC/USD has a positive technical picture despite the stalling below $50.

Litecoin advanced higher from the main support at $40 in tandem with the other major cryptocurrencies such as Bitcoin and Ethereum. Bitcoin ascended to highs above $10,400 on Monday while Ethereum stepped above $250. LTC/USD closed in on the psychological level at $50 but the upside is still limited by the 200-day SMA.

LTC/USD is teetering at $48.52 after gains towards $50 lost momentum. On the downside, the 50-day SMA is in line to offer support, marginally above channel support. This channel support was instrumental to the price action since the drop to $25 in March.

Applied technical indicators put emphasis on buyers being in control. For instance, the RSI is gradually approaching the overbought region. On the other hand, the MACD is moving higher inside the positive territory. In addition to that, a bullish divergence from the MACD hints that buyers would remain in the driver’s seat a while longer. The biggest short term milestone for the bulls would be to take down the seller congestion at $50. With the $50 in the rearview, gains towards $100 would start to materialize.

LTC/USD daily chart

LTC/USD price chart

Litecoin confluence support and resistance levels

Resistance one: $49.01 – Highlighted by the previous high 4-hour, the Bollinger Band 15-mins upper and the previous high one-day.

Resistance two: $50.02 – Home to the SMA 200 one-day and the previous month high.

Support one: $47.50 – Highlighted by the pivot point one-week resistance two and the Bollinger Band one-day upper.

Support two: $45.98 – This region hosts the Fibonacci 61.8% one-month and the pivot point one-week resistance one.


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

BTC/USD resumes the recovery, $12,000 back in focus

Bitcoin extended the recovery and hit the intraday high of  $11,617, At the time of writing, BTC/USD is changing hands at $11,570 with over 3.5% gains since the start of the day. 

More Bitcoin News

XRP/USD under $0.3000 after Ripple announces the investment in XRPL Lab

Ripple's XRP dropped below $0.30 after a failed attempt to settle above $0.3200 during early Asian hours. The coin has lost over 4% in the recent 24 hours and stayed mostly unchanged since the beginning of the day. 

More Ripple News

ETH/USD back on recovery track, $400.00 in focus

Ethereum, the second-largest digital asset came close to $400. If this psychological barrier is cleared, the price may retest the recent high of $415 and continue the recovery towards $450.

More Ethereum News

Altcoin Market Update: ETC and XLM face continual bearish correction

ETC/USD bears stayed in control for the fourth straight day. ETC/USD is currently priced at $7.13. The sellers are looking to get the price below the $7-level.The RSI is trending horizontally around 59.46.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast