Litecoin Price Analysis

[marksayson]

LTC has been impressive in the last few days. The LTC/USD pair rallied on Friday evening and the prices held strong, hinting at a consolidation. The coin jumped to $85.6 from the low of $82.2 on Friday and currently trading at $83.98. Investors appear to be confident in the coin’s short-term future.



We have tracked a downward correction in Litecoin price below the $84.00 level when compared to the USD. The price has managed to hold at 0.01024BTC. The LTC/USD pair traded down towards the $81.50 level before buyers appeared, so we believe that there is support near $81.



If we examine the chart above, LTC recorded a low at $81.25 before starting an upward rebound. The price has crossed over the 23.6% Fib retracement level that was formed by the last drop from the $92.17 high to $81.25 low.

We have also noted the break above the bearish trend line which previously showed resistance near $83.50 on the hourly chart. This represents a positive outlook for the coin in the near term.

If LTC rallies past $85 and holds, it would be a clear indication that the bulls are in control of the market. The current resistance at $83.5 would then become a support level and we would see further gains in the short-term.

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[jonathancool220]

Litecoin is a legendary coin and doesn't need to be predicted anymore.
many say that Bitcoin is digital GOLD and Litecoin is Silver.

[boyplastic69]

LTC is already a veteran coin in the crypto market and a promising coin that you need to consider for investment. In a couple of months from now LTC will make a progress and for sure this will further grow together with btc after the bull market takes place.