{"id":164899,"date":"2022-10-06T05:37:14","date_gmt":"2022-10-06T05:37:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=164899"},"modified":"2022-10-06T05:37:14","modified_gmt":"2022-10-06T05:37:14","slug":"litecoin-ltc-price-analysis-indicators-signal-key-upside-break","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-indicators-signal-key-upside-break\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Indicators Signal Key Upside Break"},"content":{"rendered":"
Litecoin price is rising above $54 against the US Dollar, similar to bitcoin. LTC price could start a strong increase if it settles above the $55 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 strong base above the $51.50 level.<\/p>\n The price started a steady increase and was able to clear the $52.50 resistance zone. There was a clear move above the $54.00 resistance and the 55 simple moving average (4-hours). Besides, there was a break above a major bearish trend line with resistance near $54.05 on the 4-hours chart of the LTC\/USD pair.<\/p>\n It even spiked above the $55 resistance zone. However, there was no upside continuation above the $55 level. The price started a downside correction and traded below from $55.75. There was a move below the $55 level.<\/p>\n The price declined below the 23.6% Fib retracement level of the recent increase from the $51.48 swing low to $55.75 high. However, the price found support near $53.50 and the 55 simple moving average (4-hours).<\/p>\n The bulls protected the 50% Fib retracement level of the recent increase from the $51.48 swing low to $55.75 high. The price is now rising and trading above $54. On the upside, the price is facing resistance near the $55.20 level.<\/p>\n The next major resistance sits near the $55.75 level. A clear move above the $55.75 level could pump the price towards the $58 level or even $60. The next major resistance could be $62.50.<\/p>\n On the downside, an immediate support is near the $53.50 level. The next key support is near the $52.50 level. If there is a downside break below the $52.50 support, the price could accelerate lower towards the $50 level in the near term.<\/p>\n <\/p>\n Litecoin (LTC) Price<\/p>\n Looking at the chart, litecoin price is clearly trading above $53.50 and the 55 simple moving average (4-hours). Overall, the price could start a steady upward move if it clears the $55.20 and $55.75 levels.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is now gaining pace in the bearish 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 $53.50 and $52.50<\/p>\n Key Resistance Levels \u2013 $55.20 and $55.75.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n