Litecoin Price Analysis: LTC Gearing Up for a Massive Rally?


  • LTC rose 1.15% in seven days.
  • The current trading volume of Litecoin is at $351,107,501.00.
  • LTC faces medium-term resistance at $57.73.
  • LTC/USD pair trading below EMA(20).

03 October 2022 : In this article we will walk you through Litecoin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Litecoin, Is LTC a good investment? Litecoin support & resistance levels etc. But before diving deep into the LTC technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $936,642,515,083. The total trading volume stands at $53,583,320,840. Bitcoin shares 39.69 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,389.79 level after an upward movement of 0.96%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.54 percent reaching to $1,317.86 during the previous 24 hours.
While publishing this blog, BNB traded at $287.12, following a price change of 1.38% within the same time frame. XRP the native coin of XRP is down by -1.87 and currently trading at $0.45. Additionally, Cardano reached $0.42 after seeing a decline of -0.04% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Litecoin Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Litecoin (LTC)

LTC Resistance Levels LTC Support Levels
Resistance Level 1 $55.48 Support Level 1 $51.01
Resistance Level 2 $57.73 Support Level 2 $48.79
Resistance Level 3 $59.95 Support Level 3 $46.54

Litecoin Performance

The daily chart of Litecoin shows that the LTC price has surged up with a 1.4% increase in past 24 hours. The price value of the Litecoin (LTC) coin is standing at $53.53 with market capitalization $3,816,993,378.00 USD. LTC price changes 1.15% over the week while the trading volume is hovering around $351,107,501.00 USD.

Litecoin Price Analysis

LTC price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Litecoin.

Moving Averages Price Indicator
Simple Moving Average (10) 53.38 Buy
Exponential Moving Average (10) 53.28 Buy
Simple Moving Average (20) 54.29 Sell
Exponential Moving Average (20) 54.15 Sell
Simple Moving Average (50) 56.63 Sell
Exponential Moving Average (50) 56.48 Sell

The Relative strength index (RSI) for LTC Coin is currently hovering at 51 for 14-days average line, which means LTC is moving towards overbought zone. In accordance with the conventional pivot, the crucial immediate resistance for LTC may be found at $55.48, followed by $57.73. In the meantime, the cryptocurrency's support levels were located at $51.01 and then $48.79. The LTC/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While LTC’s Williams %R indicator is at -53.184 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

There had been a positive trend for some time and it seems that the coin will continue it upward movement as long as it remains in the green area. You should only acquire crypto right now if you're prepared to book profit through short-term market moves.