{"id":148110,"date":"2021-12-23T09:27:30","date_gmt":"2021-12-23T09:27:30","guid":{"rendered":"https:\/\/precoinnews.com\/?p=148110"},"modified":"2021-12-23T09:27:30","modified_gmt":"2021-12-23T09:27:30","slug":"litecoin-ltc-price-analysis-break-above-160-could-spark-rally","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-break-above-160-could-spark-rally\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Break above $160 Could Spark Rally"},"content":{"rendered":"
Litecoin price is consolidating below $160 against the US Dollar, similar to bitcoin. LTC price could resume lower if it breaks the $145 support zone.<\/em><\/p>\n This week, there was no major upward move in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $165 resistance zone and started a fresh decline.<\/p>\n There was a break below the $160 and $155 support levels. The price even spiked below the $150 support and the 55 simple moving average (4-hours). A low was formed near the $142 level and the price is now consolidating losses.<\/p>\n There was a move above the $150 level. Litecoin even traded above $155 and the 55 simple moving average (4-hours). It is now facing resistance near the $160 zone.<\/p>\n There is also a major bearish trend line forming with resistance near $160 on the 4-hours chart of the LTC\/USD pair. The trend line is close to the 23.6% Fib retracement level of the downward move from the $220 swing high to $141 low.<\/p>\n A clear move above the $160 level could pump the price. The next key resistance could be $180. It is near the 50% Fib retracement level of the downward move from the $220 swing high to $141 low.<\/p>\n On the downside, an immediate support is near the $155 level. The first key support is near the $150 level. If there is a downside break the $150 support, the price could visit $142. The next key support is near the $130 level, below which the price could slide towards the $120 level.<\/p>\n <\/p>\n Litecoin (LTC) Price<\/p>\n Looking at the chart, litecoin price is clearly trading above $155 and the 55 simple moving average (4-hours). Overall, the price could start a fresh increase if it breaks the $160 resistance zone.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is slowly gaining pace in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is now above the 50 level.<\/p>\n Key Support Levels \u2013 $150 and $142<\/p>\n Key Resistance Levels \u2013 $160 and $180.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n