Litecoin Price Analysis: LTC Goes Beyond $46 After 17% Hike in 7 Days

Litecoin has managed to balloon up by 17.64% over the last week, and its value has touched $46 point. It started the week at around $39. This bullish spree is likely to continue for some more days.

Will LTC/USD Continue this Bullish Move in the Upcoming Days?

Litecoin started the week at $39.27 on April 02, and in the next 17 hours of the same day, it managed to increase its momentum and added $3.87 in the value. After hitting $43.15, LTC faced steep fall and reached $39.09, but from this low, it again initiated a steady upside price movement, which took the Litecoin price to $47.81 by a huge hike of 22.30% hike on April 07.

However, it couldn’t remain there for long and started falling again. By 21:00 UTC on the same day, LTC price lost 8.21% and got confined to $43.89. It was again pushed to $46.34 by today after registering a 5.36% gain.

Litecoin’s current value is trending below both its 30 days MA ($46.31) and 90 days MA ($46.4). Its RSI is now around 47.53 points. As per technicals, Litecoin’s next resistance may come by $47.26, but from this price point, it may face rejection. LTC may continue to show consolidation around $47.

LTC/USD Price Chart