Litecoin Price Analysis, 25th June: LTC moving sideways

4 weeks ago

LTCUSD Dominant Trend: Ranging

Resistance Levels: $148, $150, $152

Support Levels: $124, $122, $120

Litecoin Price Analysis

Litecoin (LTC) is one of the most valuable coins of the conventional market due to its high market capitalization and the growing interest of investors. But unlike the Bitcoin (BTC) movement, the market has decided to move sideways and Litecoin price has been falling since June 23 until the last hour of June 24, after which the market managed to move from the downtrend to the uptrend. During the last 6 hours, Litecoin price has seen a steady increase. The first increase was registered around 20:00 UTC yesterday (June 24), and the coin gained almost 1% of its value in 4 hours. LTC/USD tries a recovery of more than $135.00 after a massive sale. The recovery of Litecoin, which is slowing in the face of strong resistance, has recovered from recent lows. The initial support is created by $130 level.

LTC to USD Price Chart 25th June

In addition, Litecoin, the fourth largest asset with a market capitalization of $ 8.5 billion, gained 1% of its value in the last 6 hours to trade at $136.59 at the time of writing. Litecoin price has been moving up amid technical correction in sync with the rest of the market. On the technical side, Litecoin’s movement above $135 (50-days 4-hour moving average) intensified the purchase and raised the price above $136. A sustained move on this benchmark will pave the way for the bullish next target of $140 and $145 levels, followed by $148. The next resistance awaits us at the psychological levels of $150 and $152. Technically, buyers are in charge. If we take into account the element of exaggeration, it is obvious that the bulls have control and that each dip is an entry point. From a top-down approach, the path of least resistance is increasing. Even so, the immediate support is $124, $122 and $120 respectively, while the stochastic RSI is trying to recover from the oversold.

Azeez Mustapha @ItuGlobal

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

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