Litecoin Price Analysis – May 19
The Litecoin price is showing a remarkable improvement today after the coin dropped slightly yesterday.
Resistance levels: $95, $100, $105
Support levels: $45, $40, $35
LTC/USD is currently heading towards the 21-day moving average as the coin increases from $64.58 to $70.20. The Litecoin price is above the 9-day moving average. However, the signal line of the technical indicator Relative Strength Index (14) is preparing to cross above the 40-level, indicating a bullish movement.
Litecoin Price Analysis: What to Expect from Litecoin (LTC)
If the Litecoin price tries to maintain its bullish trend by crossing above the 9-day and 21-day moving average, bulls could reach the resistance levels of $95, $100, and $100. However, the price of the Litecoin may show a fluctuating movement along with the daily chart, which could return it to support levels at $45, $40, and $35 respectively.
LTC/BTC Market: Price May Consolidate to the Upside
Against Bitcoin, the coin is trading above the 9-day moving average as the technical indicator Relative Strength Index (14) moves above the 40-level, which may likely increase the bullish movement of the coin. A possible drop may surface once the price drops below the lower boundary of the channel, and further bearish movement may likely hit the critical support level at 2000 SAT and below.
However, bulls may likely push the price above the 21-day moving average. Meanwhile, if the bulls continue to move in this way, they could hit the resistance level of 2600 SAT and above. More so, the trading volume is coming up tremendously and may continue to climb higher as much as the technical indicator keeps the bullish movement.