TL;DR Breakdown
- Overall market is bullish since yesterday.
- High resistance at 12:00 UTC.
- Next target is $149 (recent swing high of the 29th of June)
Based on our Litecoin price analysis, the market is bullish today. It closed at $138.8 at 0:00 (UTC) after significant volatility between $140.88 and 138.55. By 01:00 (UTC), the price has gone down to 137.21 and from here, the market retraced to $145.54.
Overall, the Litecoin price has been highly volatile in the last 2 days. Yesterday, there was an increase of 2.40 percent after the bearish engulfing on 2nd July. Today, there is an increase of roughly 3.9 percent to 4.0 percent in the price.
Litecoin price movement in last 24 hours
Over the last 24 hours, LTC/USD fluctuated between a high of $141.41 and $146.79. Trading volume has gone down to 48.338k from 92.876k, with a total market cap of $9,643,993,170 and a current ranking of 13.
A swing low of $137.14 has been observed at 1:00 (UTC) today after which the market has been bullish between 2:00 (UTC) to 8:00 (UTC). After which, support was set at $144.
Significant resistance has been observed between 7:00 (UTC) and 13:00 (UTC) today as investors are rushing to sell after the recent retrace period.
LTC/USD 4-Hour Chart – Rising to the swing high of 29th June?
Looking at the 4-hour graph, it is apparent that Litecoin price analysis has been bullish over the last 24 hours. Litecoin has crossed its previous support of $135 and seems to be moving up to its recent high of $146.79.
Although, there is significant resistance, which suggests that a bear engulfing pattern might follow in the coming days. Overall Litecoin price analysis suggests that the market was bearish between 29th June and 1st July after hitting a high of 149.26.
There was a significant amount of volatility and fluctuation between 1st and 3rd July. Today, the market has retraced the significant fall that occurred on the 1st of July resulting in a 4.99 percent decrease from the previous day.
Litecoin price analysis conclusion: LTC headed towards $149?
Over the next 24 hours, the market could become bearish as day traders rush to sell after the recent retrace. However, if we consider the overall trends of the last 2 days, the market is overall bullish.
So, there is a high chance that the market will retrace to the $180 mark over the next several days other than the small bouts of volatility in between.
The swing high of $149 on 29th June followed by a bullish trend since 2nd July is a clear indicator that significant momentum is building up against the resistance as per Litecoin price analysis. But despite the bulls trying to raise the price over the last few days, the market has been largely bearish if we look at the bigger picture.
If the value reaches the last swing high on the 29th of June, the resistance might overpower the bullish momentum, causing another bearish engulfing pattern in the coming days.
While you wait for Litecoin to cross the 29th of June’s swing high, you might want to read our comprehensive guide on Bitcoin Fees. Alternatively, feel free to scroll through our other price index categories to know the current price of your favorite coins.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.