Litecoin Price Analysis: LTC Crosses the $46 After an Overnight Gain of 14.41%

 Litecoin Price Analysis: LTC Crosses the $46 After an Overnight Gain of 14.41%

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

Litecoin (LTC) Price News

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.

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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