Litecoin technical analysis: LTC/USD recovery limited by Bollinger Band middle curve
- Litecoin widening gap between the 50-day SMA and the 100 SMA emphasizes the strong bears’ grip.
- Litecoin bulls must pull above the lock-step trading under $55 to gain momentum towards $60.
Spot rate: $55.93
Relative change: +0.1486
Percentage change: 0.27%
Trend: Bearish
Support: $50 - $52
Resistance: $55 and $60
LTC/USD daily chart
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The Relative Strength Index (RSI) gradual movement north signals a relatively improving technical picture.
Litecoin’s upward movement hampered by the Bollinger Band middle.
LTC/USD four-hour chart
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Litecoin sustains upward movement from the recent low from around $51.19.
The Simple Moving Average (SMA) currently at $54.45 is in line to offer support.
LTC/USD one-hour chart
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Litecoin stays above the accelerated trendline while the main trend line will be useful later in the event losses press down towards $50.
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
