The Litecoin (LTC), price, is showing a very bullish trajectory. It aims to surpass the $64.02 level.
- Litecoin’s bullishness is evident as it looks to break the $64.02 threshold.
- The $60.87 support level was identified.
- At $64.32, Price is facing difficulties
On the other hand, LTC is facing hurdles at $64.32 as the bulls’ strong upheaval waned a bit. LTC’s price was at $60.87 early today and has even managed to reach a high of $64.32 with the bulls trying to nudge the prices higher.
LTC has experienced a dramatic increase of over 3.47% in overnight trading and is currently at $64. In a 24 hour period, trading volume has risen to $404 Million.
According to CoinMarketCapLTC has risen by 0.4% and is currently trading at $64.38.
Litecoin New Target: $70
LTC is showing a bullish 4-hour trend and posting higher highs than lows. LTC also broke the channel where it was trapped for the past week. This breach suggests a positive market reaction and development that intensifies the dominance by the bulls.
LTC/USD currently trades higher than the 50 SMA as well as the 200 SMA. This indicates that bulls have now taken control of the market.
Litecoin’s RSI is spotted at 63.83. This indicates that the market has been repositioned between overbought territory and oversold territory. More so, LTC’s MACD is extremely bullish indicating that the bulls are in control of the market as of press time.
LTC’s price indicates that bullish sentiment is still high in the market. It could increase in the next few days. LTC managed to surpass the $64.02 mark and reach the $64.32 level, which allows it to move up towards the $70 target.
The support zone at $60.87 is on the other side. If the bears push it below that zone, this could lead to a huge sell-off.
LTC To Enjoy Continuous Steady Pace
LTC price analysis shows that LTC has a bullish and upward momentum. There is still plenty of space for market sentiment to change. The 24-hour chart shows even more that the market is generating greater gains.
Investors should be careful not to buy when the market is in a tiny downturn as the LTC price will rise in the days ahead.
TRON Total Market Cap at $4.35B on Daily Chart Source: TradingView.com| Source: TradingView.com Featured image taken from AMBCrypto. Chart from TradingView.com