{"id":162326,"date":"2022-08-18T05:37:33","date_gmt":"2022-08-18T05:37:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=162326"},"modified":"2022-08-18T05:37:33","modified_gmt":"2022-08-18T05:37:33","slug":"litecoin-ltc-price-analysis-bulls-protect-key-support-at-60","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-bulls-protect-key-support-at-60\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Bulls Protect Key Support At $60"},"content":{"rendered":"
Litecoin price is consolidating above $60 against the US Dollar, similar to bitcoin. LTC price could continue to move up if it remains well bid above the $58 level.<\/em><\/p>\n In the past few days, there was a decent increase in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the $58 level and started a fresh increase.<\/p>\n There was a clear move above the $60 and $62 resistance levels. The price even climbed above the $64 level and the 55 simple moving average (4-hours). However, the bears were active near the $66 level. A high was formed near $65.79 before there was a downside correction.<\/p>\n The price declined below the $64 level and the 55 simple moving average (4-hours). It even traded below 50% Fib retracement level of the upward move from the $57.59 swing low to $65.79 high.<\/p>\n However, the bulls were active near the $60 level. There is also a major bullish trend line forming with support near $60 on the 4-hours chart of the LTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the upward move from the $57.59 swing low to $65.79 high.<\/p>\n On the upside, the price is facing resistance near the $61.80 and $62.00 levels. A clear move above the $62 level could pump the price towards the $65 level. The next major resistance sits near the $70 level.<\/p>\n On the downside, an immediate support is near the $60 level. The next key support is near the $58 level. If there is a downside break below the $58 support, the price could accelerate lower towards the $54.70 level in the near term.<\/p>\n <\/p>\n Litecoin (LTC) Price<\/p>\n Looking at the chart, litecoin price is clearly trading below $62 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $62 resistance zone.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is now gaining pace in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is now below the 50 level.<\/p>\n Key Support Levels \u2013 $60 and $58<\/p>\n Key Resistance Levels \u2013 $62 and $65.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n