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Price analysis of Litecoin: LTC / USD ready for continuous gains

Litecoin's price stood above $ 32.00 and $ 33.00 against the US dollar. LTC / USD is currently under consolidation, but looks set to earn more than $ 35.00-36.00.

Key points of conversation

  • The price of Litecoin is consolidating the gains above the support of $ 32.00 (Kraken Data Feed) compared to the US dollar.
  • C & # 39; is a short-term contractual triangle in place with resistance to $ 34.50 on the hourly chart of the LTC / USD pair.
  • It is likely that the LTC price will break resistance levels $ 34.50 and $ 35.00 to rise further higher.

Pricing of Litecoin prices

Yesterday we saw a good rise above the resistance of $ 30.00 and $ 32.00 in the litecoin price compared to the US dollar. The LTC / USD was also traded above the resistance of $ 35.00 and traded near the $ 26.00 level.

LTEC price analysis chart Litecoin

Litecoin's price stood above $ 32.00 and $ 33.00 against the US dollar. LTC / USD is currently under consolidation, but looks set to earn more than $ 35.00-36.00.

Looking at the chart, the LTC price was trading at $ 35.93 and stood above the 100-hour simple moving average. Subsequently, the price started a downward correction and traded below support levels of $ 35.00 and $ 34.00.

There was also a rupture below the Fibra retracement level of 23.6% from the recent rise from the low rebounding $ 28.30 to $ 35.93 high. However, the downward move was protected from the $ 32.80-33.00 zone.

There was no test of 50% Fibra retracement level of the recent rise from the low rebounding $ 28.30 to $ 35.93 high. The price is consolidating above the $ 32.80 level and seems to be preparing for the next move.

More importantly, there is a short-term contractual triangle with a resistance of $ 34.50 on the hourly chart of the LTC / USD pair. If there is an upside break above the resistance of $ 34.50, the price will probably also break resistance from $ 35.00 and $ 36.00.

On the downside, the $ 32.80 level is a decent support. If the litecoin price breaks the support of $ 32.80, it could slip towards the support of $ 31.80 and the 100-hour moving average. Global price action is positive for LTC and buyers may soon try to push the price further.

Market data is provided by TradingView.

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