Litecoin (LTC) Price Analysis – June 26
The Litecoin is seen showing some strength against the US dollar, and it is likely that it will continue to be strong until the end of the day.
Resistance levels: $47, $49, $51
Support levels: $38, $36, $34
Litecoin is trading with a decent 2.6% price bump within 24 hours, making it one of the best performing coin in the top 10. It’s currently trading at around $43.41. The Litecoin price action is showing a strong sign of upside momentum, as it seems to reclaim back the $45 level. The bulls are making a good way to push to escape a bearish technical set up.
For now, the recent 2.6% price hike seen today allowed LTC to break above a long-term descending trend line which is a good sign for the bulls. However, if the bulls continue above $43, the next level of significant resistance lies at $45. Above $45, we can expect higher resistance at $47, $49, and $51 while the support can be found at $38, $36, and $34. The RSI (14) is giving bullish signals which indicate that the bulls may be coming into play.
Against Bitcoin, Litecoin has remained fairly static. However, we have seen an increase from 4580 SAT to 4732 SAT today – where resistance is been found. The recent increase has also allowed the cryptocurrency to climb above the 9-day and 21-day moving averages which is a promising sign for buyers.
From above, if the bulls can break above 4800 SAT, higher resistance is then located at 4850 SAT and above. From below, the nearest level of support now lies at 4500 SAT. Beneath this, further support is at 4350 SAT and below. Likewise, the RSI (14) is moving above the 48-level which is a promising sign for the bulls as the momentum is on their side.