Litecoin price witnessed an increase in value over the last 24 hours. In the past day, the coin surged more than 3%.<\/p>\n
The past week for LTC has remained quite positive for the altcoin as it logged over a 9% gain in that timeframe.<\/p>\n
The coin has continued to form higher highs on its chart, demonstrating that the bulls were in control of the price.<\/p>\n
That caused the altcoin to break its consolidation and shatter above important resistance marks. The technical outlook for the coin was bullish at the time of writing.<\/p>\n
The demand for Litecoin registered appreciation as demand for the coin also shot up. The coin has established strong support for itself at the $53 price mark.<\/p>\n
Currently, LTC trades at a vital price mark as the coin has struggled to move past this price level for the past several weeks.<\/p>\n
If the bulls fail to sustain the price at the current price, a fall through the $53 support line will bring the bears back on the chart.<\/p>\n
At this price mark, LTC is trading at an 86% low compared to its all-time high that the coin secured in May 2021.<\/p>\n
Litecoin was priced at $56 on the one-day chart | Source: LTCUSD on TradingView<\/a><\/p>\n LTC was trading at $56 at the time of writing. After a solid consolidation, the coin has finally been able to revisit the $56 price mark.<\/p>\n If Litecoin has to remain bullish, it has to continue trading above its current price zone. The coin will encounter immediate resistance at $57.<\/p>\n A move above $57 will help LTC to touch the $60 price mark. On the other hand, a slight loss in bullish strength, can drive the altcoin\u2019s price down to $53 and then to $50.<\/p>\n The amount of Litecoin traded in the past session was in the green. This means that the buyers were back on the chart.<\/p>\n Litecoin registered increased buying strength on the one-day chart | Source: LTCUSD on TradingView<\/a><\/p>\n The altcoin has implied that the bulls were back as the demand for the altcoin noted an uptick on the one-day chart.<\/p>\n The Relative Strength Index was at the 60-mark, a sign of bullishness as buyers were more in number than sellers.<\/p>\n Litecoin price was above the 20-SMA line, which meant increased demand for the coin and also showed that buyers were driving the price momentum in the market.<\/p>\n Litecoin depicted buy signal on the one-day chart | Source: LTCUSD on TradingView<\/a><\/p>\n The other technical indicators have also inclined towards the idea that bullishness has caused buying strength to increase on the one-day chart.<\/p>\n The Moving Average Convergence Divergence displays the price momentum and the direction of the asset.<\/p>\n The MACD was bullish with green histograms above the half-line, which was the buy signal for the asset. Bollinger Bands indicate the price fluctuations and volatility of the coin.<\/p>\n The bands were starting to expand, hinting that there could be a chance of an upcoming price fluctuation.<\/p>\n Featured image from Unsplash, Chart From TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Litecoin price witnessed an increase in value over the last 24 hours. In the past day, the coin surged more than 3%.<\/p>\n The past week for LTC has remained quite positive for the altcoin as it logged over a 9% gain in that timeframe.<\/p>\n The coin has continued to form higher highs on its chart, demonstrating that the bulls were in control of the price.<\/p>\n That caused the altcoin to break its consolidation and shatter above important resistance marks. The technical outlook for the coin was bullish at the time of writing.<\/p>\n The demand for Litecoin registered appreciation as demand for the coin also shot up. The coin has established strong support for itself at the $53 price mark.<\/p>\n Currently, LTC trades at a vital price mark as the coin has struggled to move past this price level for the past several weeks.<\/p>\n If the bulls fail to sustain the price at the current price, a fall through the $53 support line will bring the bears back on the chart.<\/p>\n At this price mark, LTC is trading at an 86% low compared to its all-time high that the coin secured in May 2021.<\/p>\n Litecoin was priced at $56 on the one-day chart | Source: LTCUSD on TradingView<\/a><\/p>\n LTC was trading at $56 at the time of writing. After a solid consolidation, the coin has finally been able to revisit the $56 price mark.<\/p>\n If Litecoin has to remain bullish, it has to continue trading above its current price zone. The coin will encounter immediate resistance at $57.<\/p>\n A move above $57 will help LTC to touch the $60 price mark. On the other hand, a slight loss in bullish strength, can drive the altcoin\u2019s price down to $53 and then to $50.<\/p>\n The amount of Litecoin traded in the past session was in the green. This means that the buyers were back on the chart.<\/p>\n Litecoin registered increased buying strength on the one-day chart | Source: LTCUSD on TradingView<\/a><\/p>\n The altcoin has implied that the bulls were back as the demand for the altcoin noted an uptick on the one-day chart.<\/p>\n The Relative Strength Index was at the 60-mark, a sign of bullishness as buyers were more in number than sellers.<\/p>\n Litecoin price was above the 20-SMA line, which meant increased demand for the coin and also showed that buyers were driving the price momentum in the market.<\/p>\nTechnical Analysis<\/h2>\n
Litecoin Price Analysis: One-Day Chart<\/h2>\n
Technical Analysis<\/h2>\n