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Litecoin (LTC) found a solid base at $ 54 against the US dollar. The digital currency is currently in the green and is likely to extend its earnings beyond the $ 60 short-term limit. However, he needs to break his resistance to the $ 58 sign before he can test the $ 60 mark.
Litecoin (LTC) Price Today – LTC / USD
At the time of writing, Litecoin (LTC) is trading at $ 57 after an increase of about two percent in the last twenty-four hours. The current market capitalization of the digital currency is $ 3.31 billion and its trading volume over the past twenty-four hours is $ 189.61 million.
Price Analysis of Litecoin (LTC)
C & # 39; was a decent price action in the value of Litecoin (LTC) above the minimum of $ 53. The digital currency remained above the levels support for $ 53 and $ 54, which is indeed a positive sign. From the chart, the value of the currency tried to cancel the $ 54 sign on several occasions, but buyers were able to defend more losses.
This led to a major upward movement, and the value of money rose above $ 55 and $ 56 marks. There was also an interruption of the Fibonacci retracement level of 23.6% of the previous swing from the maximum of $ 62 to the minimum of $ 53. Nevertheless, the current upward movement is limited around at the sign of $ 58.
There is also a formation of a key bearish trendline with resistance to the $ 58 mark on the 1 hour chart of the coin. The trendline is in line with the 50% Fibonacci retracement level of the previous swing from the maximum of $ 62 to the minimum of $ 53.
So, once the coin has passed the resistance level of $ 58 , could see more gains in the short-text and test his previous high swing near the $ 62 mark.
