Litecoin (LTC) price has risen to $172 after hitting a low of $165. In recent weeks, Litecoin has fluctuated between $163 and $190. The recent decline was a result of buyers' inability to sustain bullish momentum above the $190 high.
Today, LTC is rising to retest overhead resistance at $190. The cryptocurrency will resume an uptrend if the $190 resistance is broken. It is possible that the altcoin will reach the high at $240. Conversely, if the selling pressure continues, the bears will try to break below the lower price area at $163. Litecoin will continue to fall to the low of $152. Meanwhile, Litecoin's upside is facing rejection at $175 high at the time of writing.
The LTC price is at level 52 on the Relative Strength Index for period 14. It indicates that the market is above the centre line 50. It indicates that the altcoin is able to go up. Litecoin is above the 25% range of the daily stochastic. It indicates that the market is in a bullish momentum.
Major Resistance Levels - $500 and $540
Major Support Levels - $180 and $140
Litecoin is in an uptrend as it faces resistance at $175. A break above the current resistance will push the coin to reach or retest the high at $190. Price indicators have shown the possibility of a rise in the cryptocurrency.
Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.