Litecoin price analysis shows that LTC/USD has regained its bullish momentum after a brief pause. The coin has managed to recover its losses and surge above the $88 mark. The bears have been in the market for today’s trading session, but the bulls have gained control over the market.
At the time of writing, LTC/USD is trading at around $88.11 after seeing a 0.88% increase in price. The coin has managed to break above the $88.85 resistance level and if it continues to hold, we could see further bullish momentum in the coming days. However bears might push the price back down, and if that happens then we will expect support at $86.00.
LTC/USD 1-day price chart: Price levels up to $88.11, bulls manage to penetrate
Litecoin price analysis on 24-hour charts shows that LTC/USD has regained its bullish momentum, as the market has spiked above $88.11. The bears attempt to defend $86.00 and push the prices lower, but so far have been unsuccessful as the bulls have gained control.
The relative strength index (RSI) is currently sitting at 67.69, indicating a neutral market sentiment as neither buyers nor sellers are in control yet. The MACD shows that the bullish momentum is rising and could rise further if the price of LTC continues to increase. The EMA 50 is indicating a bullish market as it has crossed above the EMA 20. while the EMA 9 has crossed below the EMA 26.
LTCUSD 4-hour price chart: Bulls and bears fighting to gain control
Litecoin price analysis on the 4-hour charts confirms an increasing trend as the price has covered an upward movement in the past few hours despite the fact that the price breakout was downwards. This can be confirmed from the 4-hour price chart, where the green candlesticks appear, indicating a rise in coin value. The bullish momentum has successfully rescued the price above the $88.85 margin, and it seems like the bulls are going to achieve their next target soon.
The EMA’S indicator also shows a bullish crossover as the EMA 9 and 26 are currently trading above the EMA 50. The RSI is currently sitting at 62.12, which indicates that there’s still some strength left in the market for bulls to push LTC/USD higher. Lastly, the MACD also suggests an increasing trend as it has moved above the signal line.
Litecoin price analysis conclusion
Overall, the Litecoin price analysis shows that LTC/USD is on a bullish trajectory and has a good chance of increasing in value further if the bulls manage to hold their ground. The coin will need to stay above $88.00 for this to happen, however, support is still present at $86.00 should the bears make a comeback.