Litecoin Price Analysis: LTC Crossed $40 Mark, After Marginal Hike Overnight

• Litecoin has managed to escalate its value by 1.97% in the last 24 hours
• This positive momentum may stay here for some days, and the next resistance point may come by $40.62

LTC has again surpassed a $40 price mark over the last 7 days. In the last 24 hours, it has been up by almost 2%, and this bullish trend of Litecoin may continue for some more days.

After hitting a $35 price mark on March 23, the currency has started trading upwards, and the day before yesterday, Litecoin price breached a $40 price mark, but then, it faced sharp fall and continue to trade under the bearish influence.

LTC/USD Price Chart

Litecoin was being traded at $39.52 at the opening hour of yesterday, and in the next 6 hours, its value subsided by 2.45% and touched $38.55. After this marginal fall, LTC registered a consistent upward momentum, and today, by 00:08 UTC, it added 7.47% value and reached beyond $41. However, since then, the price has dropped by a small margin. Between 00:08 & 01:38 UTC, Litecoin price got stabbed by 3.43% and touched $40.

Litecoin’s RSI is now around 47 points, which shows no extremities. The coin gained support from its 20-day MA. And the 50-day MA is trending above the current price. As per the current price movement, LTC may soon reach the next resistance around $40.62. However, the change is likely to happen gradually, and no sudden change in the value can be noticed.