{"id":123958,"date":"2021-05-06T07:02:06","date_gmt":"2021-05-06T07:02:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123958"},"modified":"2021-05-06T07:02:06","modified_gmt":"2021-05-06T07:02:06","slug":"litecoin-ltc-price-analysis-bulls-remain-in-control-above-300","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-bulls-remain-in-control-above-300\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Bulls Remain in Control Above $300"},"content":{"rendered":"
Litecoin price is gaining pace above the $300 zone against the US Dollar, similar to bitcoin. LTC price is likely to continue higher as long as it is above $300.<\/em><\/p>\n This week, there was a decent increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the $220 and $225 levels.<\/p>\n The bulls came into action and the price started a strong increase above the $250 and $280 levels. There was a clear break above the $300 resistance zone. It is now trading well above the $300 level and the 55 simple moving average (4-hours).<\/p>\n The price gained over 30% and it cleared the $350 resistance zone. A high is formed near $365 and the price is now correcting gains. It traded below the $350 support zone. There was a break below the 23.6% Fib retracement level of the recent rally from the $294 swing low to $365 high.<\/p>\n An immediate support is near the $330 level. It is close to the 50% Fib retracement level of the recent rally from the $294 swing low to $365 high.<\/p>\n The next major support could be near the $300 zone. There is also a major bullish trend line forming with support near $300 on the 4-hours chart of the LTC\/USD pair. Any more losses might call for a drop towards the $250 pivot level.<\/p>\n On the upside, the price is facing hurdles near the $355 and $365 levels. The next major resistance is near the $380 level, above which the price is likely to accelerate higher towards the $400 and $420 levels.<\/p>\n <\/p>\n Litecoin (LTC) Price<\/p>\n Looking at the chart, litecoin price is now trading nicely above $300 and the 55 simple moving average (4-hours). Overall, the price is correcting gains, but dips are likely to remain well bid above $300.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is slowly losing pace in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is still above the 55 level.<\/p>\n Key Support Levels \u2013 $330 and $300.<\/p>\n Key Resistance Levels \u2013 $365 and $380.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n