Home Litecoin Litecoin Price Analysis: LTC Coin Price Is Ready For A Parabolic Move – Cryptocurrency News – The Market Periodical

Litecoin Price Analysis: LTC Coin Price Is Ready For A Parabolic Move – Cryptocurrency News – The Market Periodical

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  • LTC coin price is currently observing consolidation in the daily chart and can soon see a breakout to a new high. It has seen a gain of more than 2.4% in the past 24 hours.
  • The technical indicators of Litecoin suggest a strong upside momentum in price. In contrast, LTC/BTC pair is up by more than 1.6%

LTC coin price is currently observing a strong bullish trend and can soon see a new high. Litecoin’s price has seen a gain of more than 2% in the previous trading session and is trading near the value of $200. It has an ROI of more than 18000% which has benefitted investors and retailers for a long time. The coin price has to travel more than 58% of the current level to reach an all-time high. The consolidation in assets can soon see a bull trend. One can suggest a strong bull momentum in LTC token price and can soon see a new high in the price.

Litecoin token price is seeing a strong recovery in price and the market dominance along with the market cap which can see previous levels. The volume of the asset is also observing a bull trend which can push the price to a new high. The volume to market cap ratio of the LTC hints towards a strong bull trend in price.

LTC Coin Price Technical Hints A Strong Upside Trend 

Source: Trading view

LTC coin price weekly technical chart suggests a strong bullish momentum for the future. It is up by more than 8% in the past week. On the daily chart, asset price has formed a strong bullish engulfing pattern. The upside trend of Litecoin might see a hostility near $220. The support of the coin can be observed near $100. The coin price is currently trading above the 50 and 100 Daily Moving Average. The 50MA line of the coin price is near $180 acting as temporary support for the price. LTC/BTC pair can also see strong momentum in future. One can invest in Litecoin as per their needs and price action scenario

Conclusion

Litecoin’s price is currently observing a strong upside momentum and can soon see a new high. LTC/BTC pair can also observe a new high in the future.

Technical Levels

Major Resistance: $250
Majo Support:$120

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