LTCUSD Dominant Trend: Ranging
Resistance Levels: $145, $150, $155
Support Levels: $120, $115, $110
Litecoin (LTC) is on the list of priorities for many investors due to its stability and growth structure without any impact. However, the coin showed four major variations in the last 24 hours. While this should have benefited the intraday traders, this is not entirely beneficial for Litecoin as a stable instrument. Yesterday, between 11:02 UTC and 12:24 UTC, the currency lost 4.82%. This was followed by a brief growth cycle of 3.42%, which took place over 3 hours and 59 minutes. The next walk took place between 20h58 UTC and 22h51 UTC. This increase was 4.67% and was followed by a strong decrease of 3.21%, which occurred during the following 3 hours and 14 minutes. Litecoin’s medium-term outlook is bullish and the currency is expected to reach $200 by the end of the year. It is likely that the Litecoin has a bullish outlook in the medium term.
Litecoin (LTC/USD) is currently trading at $129.71 as reveals on the chart. The price of the cryptocurrency is negotiated below the moving average with a period of 55, which indicates a downward trend in Litecoin. For the moment, cryptocurrency prices are moving below the lower limit of the Ichimoku cloud indicator. A level test of $135 is expected and we expect the LTC/USD movement to continue in the uptrend. The objective of this movement is the area close to that in which the resistance level is $145 and the following target levels are $150 and $155. The Litecoin careful purchase area is located at $130 near the lower limit from the Ichimoku cloud band. Technically, it is the sellers who manage the sale. If we take into account the element of exaggeration, it is obvious that bulls can have control and that each dip is an entry point for buyers. The immediate support levels are $120, $115 and $110 respectively, while the MACD indicator gives bearish signals.