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

 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 (LTC) Price News

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.

Harold Sanders

Harold Sanders is a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Harold's passion for Litecoin bloomed in late 2016 and he hasn't looked back since. Cryptonews technological and economic implications are what interest him most.

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