Litecoin Technical Analysis: LTC/USD contains the 3% surge above $47
- Litecoin’s bullish momentum falls short of $50 but the bulls refuse to give up, keep the focus on $60 and $80.
- Litecoin bulls resort to consolidating gains between $47 and $49 ahead of a technically possible breakout.
Spot rate: $47.85
Relative change: 1.54
Percentage change: 3.22%
Trend: Bearish
Volatility: Low
LTC/USD daily chart
-637140643581891879.png)
Litecoin pushed the action above $40, testing the crucial resistance at $50.
The MACD hints that bulls are ready to stir up more action to the upside likely to hit $60 in the near-term.
LTC/USD 1-hour chart
-637140643146099707.png)
The RSI retreat from the overbought finds support above 66 ushering a period of consolidation.
The accelerated trendline tries to prevent losses towards the $47 short term support. Similarly, the main trendline will come in handy later in the event bears overwhelm the buyers.
Author
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
