Litecoin Shows A Bullish Reversal Pattern, Will LTC Price Go To $70?

Tether (USDT), Litecoin’s (LTC) main rival, is struggling to beat it as the bulls push the price over the critical support zone. This creates a bullish chart pattern. Bitcoin’s (BTC) price has shown less steam compared to recent times; this has affected most crypto assets, including the price of Litecoin (LTC). (Data from Binance).

Litecoin (LTC), Price Analysis on The Weekly Chart 

The Litecoin (LTC), price, has been so strong after it hit a low point of $42 at the beginning. It bounced back from that region to reach $55. 

LTC’s price rose to $65, but it was rejected because this resistance proved to be too strong for LTC in the weekly charts. 

LTC’s price fell to around $50. Weekly support was formed to prevent the price falling. LTC price continues to rise above the support level and is building momentum to move above this area.

LTC’s price is trading at a level below its resistance. This prevents the price trending higher. The resistance at $57 could be broken and the LTC price will likely revert to $50. This would act as a demand area for investors.

Weekly resistance for the price of LTC – $57.

Weekly support for the price of LTC – $50.

BTC Price Analysis On A Daily (1D), Chart

Source:| Source: LTCUSDT On

LTC has dropped from its high point of $400. The price of LTC is now in an ascending triangle, which indicates that there could be a price correction.

The price of LTC found its daily low at $40; as the price bounced off from that region, LTC’s price has remained strong, trading above $50, not allowing bears to take the price lower. 

LTC has been rejected from $60 recently, but it still shows great bullish power. It ranges in an ascending triangle while holding higher than its trendline support area. 

LTC’s price is $54 lower than the Exponential Moving average (EMA) of daily 50-days and 200-days.

LTC’s 50 EMA is the price at $57. It acts as a resistance to LTC prices rising. LTC prices that break above $57 corresponding with the 50 EMA could cause a trend higher, possibly to $60.

Daily (1D) resistance for the LTC price – $57-$60.

Daily (1D) support for the LTC price – $50.

LTC Price Analysis On The Four-Hourly Chart (4H)

Source: LTCUSDT on| Source: LTCUSDT On

LTC’s price on the 4H charts has remained bullish. It trades in an uptrend channel and tries to stay above the trendline support. The current price of Bitcoin is above the 50 EMA in the 4H chart. 

The price of LTC continued trading above the trendline after forming an uptrend bullish bias in the 4H chart. A break below the trendline which acts as support would cause the setup to be invalidated. 

LTC price moves above the 50 EMA and below the 200 EMA. This acts as resistance to LTC prices. According to 50 and 200 EMA, the prices of $55 and $57 match.


Relative Strength Index (RSI), for LTC, is higher than 50 on the 4H charts. This means that LTC prices have a moderate amount of buy orders.

Four-Hourly (4H) resistance for the LTC price – $57-$60.

Four-Hourly (4H) support for the LTC price – $50.

Featured Image from zipmex. Charts from 

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