CryptocurrencyPrice Analysis

Litecoin (LTC) Surges to $166, $200 Imminent?

Briefly –

  • Litecoin’s recent upward move had the altcoin shooting past $160.
  • LTC had its price rising to the highs of $166.68 following a 16% upsurge
  • Litecoin might be eyeing the psychological mark of $200.

Litecoin’s (LTC) price shows the altcoin initiating a late upswing past resistance of $160. With more than a 5% gain in the day, the altcoin surged towards $166.68. Moreover, Litecoin had its trading volume increased by 15%. Keep in mind that LTC has been trapped inside a constricted $141.28 – $147.65 range, printing continuous bearish pictures. With the upward momentum, the asset might be contemplating a massive rise to challenge the $200-level over this holiday. However, Litecoin has to overcome and keep the resistance at $175 away for the optimistic case to materialize.

The overall crypto market displayed considerable green, and LTC reflected with uptrends. Bitcoin, the leading asset, led with a 5% surge. Also, Ethereum climbed by 3% to consolidate beyond the $4,000 level. Indeed the altcoin market saw most assets going green. Cardano took its price actions past $1.44 after a 6% jump. LUNA extended its surge with a 13% increase, crossing the vital $100 level, while DOGE, DOT, and SOL registered about 4% price surges each.

LTC/USD Daily Chart

Litecoin’s 24-hr price chart shows LTC surging beyond its critical 50-day EMA around $157.49. Such a move depicted bullish revival on the token. Also, the Relative Strength Index shows a lucrative market valuation as the indicator climbs towards 50. That way, LTC’s price surged into the Bollinger bands’ curve upper half.

LTC/USD 4Hr Chart – Holding Above $160 is Vital for LTC

According to the four-hour chart, LTC/USD should maintain beyond the $160 level to authorize the latest upward price move. For now. Litecoin trades at $164.01, following a slight all from previous levels. Nevertheless, the four-hour exponential moving average at $160.9 and RSI 64.3 shows that the token can continue its upsurges over the coming near-term sessions.

Final Thought

Litecoin saw a late upsurge past its resistance mark at $160 amid lucrative overnight price actions. Holing beyond the $160.9 threshold will see LTC testing the $175 resistance. Furthermore, technical indicators highlight healthy conditions for Litecoin surges. Maintaining that attitude will have Litecoin at $200. However, the precarious price position over the previous weeks shows that a move under $157 might translate to downfalls.

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