TL;DR Breakdown
Price is now touching $210.2 height.Litecoin price analysis dictates bullish trend.Support has been immoveable from $188.
The price is on the rise once again as the latest Litecoin price analysis is confirming an upward price trend. The bulls have been leading consistently since the past few weeks with minimal bearish retraces. Even today, a rise in price has been reported as the price moved higher to the $210.2 level. The efforts from the buyers’ side have been commendable as the price was able to cross the $203.33 resistance as well.
LTC/USD 1-day price chart: Cryptocurrency follows increasing trend as bulls remain at front
The one-day Litecoin price analysis is showing signs of an uptrend as the price has been increasing for the past few weeks. There have been instances where the bears gained dominancy, but nonetheless, the bulls have been at the lead from an overall view. The LTC/USD price has covered upward movement in the last 24-hours as well and is now at the $210.18 level. Whereas the moving average (MA) value in the one-day price chart is at the $190.04 level.
LTC/USD 1-day price chart. Source: TradingView
The volatility has been increasing, which on the other hand, is not an encouraging signal for the future. The upper value of the Bollinger bands Indicator is standing at $203.33 whereas its lower value is at the $160 mark. The Relative Strength Index (RSI) score is touching the over-bought limit i.e. 70 because of the improvement in price.
Litecoin price analysis: Bullish momentum triggers price escalation above $210
The four hours Litecoin price analysis is confirming an uprise in price as the bulls have been at lead persistently. A rise in LTC/USD price has been recorded in the last four hours as well as the price has jumped to the $210.18 level. It can be estimated that the price will move over the $213 resistance as well and mark further heights. The moving average value has been quite stable at the $200.87 position as the SMA 20 curve has been traveling high.
LTC/USD 4-hours price chart. Source: TradingView
The Bollinger bands indicator in the four hours price chart is showing an average of $193. If we talk about its upper band, then it is present at $212.83 position whereas the lower Bollinger band is at $172.61 position. As the upswing has set new price records, the RSI movement has been exemplary as the score is now at 76.1.
LTC/USD technical indicators chart. Source: TradingView
The progress of LTC/USD price has been remarkable in the previous months because of the constant upgrade in its market value. This is why the technical indicators chart is showing favorable results for the buyers today. We can see 15 indicators on the buying position, eight indicators on the neutral, and three indicators on the selling position.
The moving averages indicator is further confirming the upward flow of price as well with a strong bullish signal. There are 14 indicators that are currently standing at buying position, one indicator is at neutral position whereas none is at selling position. The Oscillators are giving a slightly bearish hint, with seven indicators on the neutral mark, three oscillators on the selling mark, and only one indicator on buying mark.
Litecoin price analysis conclusion
The one-day and four hours Litecoin price analysis is supporting the bulls for the day as the price has successfully joined the $210.18 level. The price recovery in the last four hours has also been quite extraordinary and has provided an edge to the buyers for further growth. The strong support at $188 is also contributing to the steady price flow.
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