Litecoin Price Analysis – July 30
The Litecoin price Analysis could set a bullish run if the market can keep the coin above the resistance level of $60.
Resistance levels: $80, $85, $90
Support levels: $50, $45, $40
LTC/USD is running a little retracement move above the resistance level of $60 with price growth of 1.73%. For the fact that the coin is recording a slight gain, the Litecoin price may follow a sideways movement within the channel if the coin crosses above the upper boundary of the channel. Meanwhile, traders can expect the price to continue to rise if the bulls put more pressure on the market.
Litecoin Price Analysis: Litecoin (LTC) May Move Upside
The Litecoin price is hovering above the 9-day and 21-day moving averages at $61.76. If the price begins to create a bullish movement, traders can then expect a bullish continuation towards the north. Meanwhile, as the technical indicator Relative Strength Index (14) moves to cross above the 60-level, the possible resistance levels could be found at $80, $85, and $90.
Moreover, if the coin continues to follow the bullish movement within the next couple of days, traders may witness more of higher levels. At the moment, the Litecoin price is creating a bullish movement in the short term. On the contrary, any bearish movement towards the south could roll the coin back to the long-term support at $50, $45, and $40 levels.
Against Bitcoin, Litecoin may continue to follow the sideways movement but crossing below the 9-day and 21-day moving averages may cause the coin to hit the nearest support at 2400 SAT. Therefore, traders can expect close support at 2100 SAT and below. However, there is a need for an increasing volume and resistance to cause an upsurge in the market.
Moreover, if a bullish move pushes the price above the upper boundary of the channel; traders can then confirm a bull run for the coin as the closest resistance level may be located at 3200 SAT and above while the technical indicator Relative Strength Index (14) remains above 50-level, suggesting bullish movement.