Litecoin Technical Analysis: LTC/USD sustains uptrend despite intraday losses

  • Litecoin bulls depend on the support at $60 and the ascending trendline to continue with the uptrend from July.
  • LTC/USD could embrace consolidation in the near term especially if the RSI holds above the midline.

Litecoin like Bitcoin and other major cryptocurrencies is in the red on Tuesday. These losses are happening after LTC/USD hit a wall at $70 towards the end of last week. The weekend session was dominated by losses as the bulls scuffled in the search for key support area. At the time of writing, Litecoin is trading at $60.43. Its immediate downside is supported by an ascending trendline.

Losses are likely to continue in the near term as observed using the RSI and the MACD. The latter is diving towards the mean line while featuring a bearish divergence. Similarly, the RSI is inching closer to the midline.

If support at $60 holds, there is a chance that a reversal would take place. On the upside, resistance should be expected at $65 and $70 respectively. Looking at the moving averages, LTC/USD is still in the hands of the bulls, except that they do not have the volume to pull above $70. Such a move would see buyers shift their focus to $80 and later to $100.

LTC/USD daily chart

BCH/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

Top 3 Gainers: OMG, SXP, and STORJ explode 70% and are eying up more gains

The entire cryptocurrency market is bouncing back up, strongly gaining more than $28 billion in market capitalization over the past week. Some of the biggest gainers include OMG, SXP, and STORJ. 

More Crypto News

The final testnet of Ethereum 2.0 Spadina goes live; ETH reaction muted

Ethereum developers announced the launch of Spadina, the last test version of Ethereum 2.0. According to the announcement, it will be active for three days and serve as a general rehearsal before the Ethereum 2.0 goes live. 

More Ethereum News

Cardano Price Prediction: ADA could be poised for a potentially deadly selloff

Cardano established a new 2020-high on July 26 at $0.15. The digital asset is down 50% since its peak, and it’s currently trying to recover. 

More Cardano news

Reddit users should hurry up if they want to cash out MOON tokens, price is falling

Reddit's crypto community has worked out a way to sell its native token MOON for cash. The coin that was initially hosted on an Ethereum testnet and intended for internal use only is now converted to a mainnet currency and traded on DeFi-protocols.

More News


Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast