Litecoin has followed the overall bullish market trend and added 14.41% in the last 24 hours. Its price has moved from $40 to $46 in a day. It may further push itself to $47 in the upcoming hours.
LTC/USD Price Forecast
Yesterday, Litecoin began the day at $40.37, and then, it continued to trade at a similar level for almost 3 hours and later, marked a sharp upward move and breached $42 mark. At 13:31 UTC, LTC price touched $43.05, and then, it faced a slight decline and regained a $42.46 price level.
From this price point, the currency was followed by another hike that occurred between 14:27 & 18:02 UTC. In these 3 hours and 35 minutes, Litecoin price got stretched by 5.72% and got placed near $44.89. However, at this price level, LTC again faced rejection and dropped to $44.22, but from here, it initiated steep upside movement, and in the next almost 6 hours, the coin gained 4.30% value, which took Litecoin price to $46.12.
From this high, the currency marked a slight fall but immediately recovered and traded to $46.19 at the time of writing this analysis. The current price of Litecoin holds strong support from its 20 days MA ($46.14) and 50 days MA ($45.9). Its RSI is now around 62.03 points, and it shows that it might get the overbought region in the upcoming hours. The next halting point for LTC may come by $47.09.