Litecoin price analysis is on the bullish side today as the price has recovered to $66.68 after yesterday’s loss. The bulls are currently in control and they have managed to make a higher low at $66.68. The market opened today’s trading with a bullish gap, and since then the price has been rising. The current support level is at $65.95 and it should be watched closely as a break below this level could result in a further down-move. On the upside, there is resistance at $67.50 and a break above this level could push the price further up.
The bears are struggling to keep the price down and it looks like they have lost control of the market. The LTC/USD has gained over 0.46% in the last 24 hours and this is a very positive signal. The 24-hour trading volume is also increasing which indicates that the bulls have taken control of the market and they are likely to push the price further up in the coming days.
LTC/USD 1-day price chart: Bulls leading the price charts
The 1-day Litecoin price analysis shows that the bulls are dominating the price function today as the price is on the rise. Currently, LTC/USD pair is trading hands at $66.68 at the time of writing. The crypto pair still has some way to go before reaching the next resistance level of $67.50.
The RSI indicator is also indicating a bullish trend as it has crossed above the 50 level. The MACD has also crossed into the bullish zone and this further strengthens the bullish trend that is currently in play. The volatility for the LTC/USD pair is mild as the Bollinger bands show a slight expansion after yesterday’s volatility. The upper Bollinger band is at $66.68 and the lower band stands at $64.30. If the volatility increases then we could see a stronger trend in either direction.
Litecoin price analysis: Recent developments and further technical indications
The 4-hour Litecoin price analysis shows that at the end of yesterday’s session, bulls came to rescue the LTC/USD price when they rejected further downside at $65.95. And green candlesticks can be seen emerging today as well as bulls lead the price function recovering it to the current price level.
The RSI on the 4-hour chart is present at 42.00. The RSI shows a humble upwards curve which is why the price oscillation is a bit slow. The volatility on the 4-hour chart is high as the volatility indicator expanded and the Bollinger bands are wide apart with the upper band at $66.73 and the lower band at $65.00. The Histogram on the MACD is also in the positive zone which further strengthens the bullish momentum.
Litecoin price analysis conclusion
The Litecoin price analysis shows that today’s recovery has brought the price up to the $66.68 psychological mark, and the bulls are likely to push it further up in the coming days. The indicators and technical analysis suggest that the price is likely to continue the bullish trend in the near future. The volatility might expand further, so investors should be ready to catch a favorable price point.
Source: https://www.cryptopolitan.com/litecoin-price-analysis-2022-12-30/