TL;DR Breakdown
- Coin value has been reset to $138.84
- Litecoin price analysis confirms uptrend.
- Support is stable at $95.59.
The latest Litecoin price analysis predicts a strong bullish trend for the cryptocurrency as the price covered upward movement during the day. The market has been following an increasing trend for the past week, and today chances were availed by the buyers once again. Currently, the buying momentum is getting strengthened, and the price has successfully reached its immediate target, i.e., $138.84. Further recovery in coin value seems quite near.
LTC/USD 1-day price chart: Bulls guide the price above $138 horizon
The one-day Litecoin price analysis gives an optimistic prediction for the cryptocurrency buyers as the price increases during the day. The bulls have managed to control the price movement for the past week, and the market analysts have observed a tremendous rise in LTC/USD value. Today’s trend was yet again in support of the bulls as the price managed to climb up to $138.84. In this way, the price dodged past its moving average (MA) value of $123.94.
The volatility seems to be on the increasing side, which unfortunately is a sign of alarm for the buyers regarding the upcoming shift in trends. A crossover between SMA 20 and SMA 50 curves was recorded earlier this week, yet another confirmation of the strong uptrend. Moreover, the upper Bollinger band value is $136.48, and the lower Bollinger band value is $95.59.
Litecoin price analysis: Bullish upstream recovers coin value up to $139
The four-hour Litecoin price analysis shows that the bulls have successfully taken advantage of the situation by securing their winning seat once again. The four-hour price chart displays a series of green candlesticks advancing towards their next target. Although a downtrend caused unfavorable circumstances for the market earlier, the past few hours have heightened the coin value to $138.84. The moving average value is currently at $136.08 position.
The short-term trending line is now traveling ascendingly because of the bullish comeback in the past few hours. The upper and lower Bollinger band values have undergone a shift as well, as now the upper extreme shows $143.80 of value while the lower extreme shows $121.92 of figures. The Relative Strength Index (RSI) score is still quite high, i.e., $67.35, because of the on and off bullish drift.
The crypto market has encountered a lot of profit over the past few weeks. There has been a consecutive rise in price because of the buying trend. This is why we can see the technical indicators chart giving out a bullish indication. Moreover, 12 indicators are on the buying side, nine on the neutral side, and only five are on the selling side.
The Moving Averages Indicator yet again shows signs of an upward market trend. There are nine indicators on the buying end, five on the selling, while only one indicator is present on the neutral end. The oscillators predict a similar trend, and eight oscillators are on the neutral position, three on the buying, while zero are found on the selling position.
Litecoin price analysis conclusion
The daily and hourly Litecoin price analysis favors the bulls for the day as a coin value seems to be growing tremendously. This is good news for the cryptocurrency buyers as the price has reached a $138.84 high point. The price covered an upward movement in the past four hours as well.
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Source: https://www.cryptopolitan.com/litecoin-price-analysis-2022-02-09/