2021-09-23 18:28:17

Litecoin price analysis: Bulls recover to $160, eye $180 next

TL;DR Breakdown Litecoin price analysis suggests upwards movement to the $180 markLTC faces resistance at the $165 markThe closest support level lies at $160 The Litecoin price analysis shows that the bulls have struggled free from the bears and now dominate the short-term charts as LTC makes a return to the $160 mark. While the price action faces resistance in leaving the $165.00 mark, the market sentiment remains highly bullish.  The broader cryptocurrency market observes a bullish market sentiment over the last 24-hours as most major cryptocurrencies record positive price movements. Major players include LUNA and NEAR recording a 15.56 and a 15.00 percent incline respectively.  Litecoin price analysis: Bulls in control Technical indicators for LTC/USDT by Tradingview Across the technical indicators, the MACD is currently bullish as expressed by the green histogram. The indicators observed a bullish crossover yesterday and have remained positive since then. Currently, the indicator’s dark color shows an increasing bullish momentum as the buyer activity continues in the market. However, the price action struggles to climb past the $25.00 mark presenting strong resistance to LTC at press time.  The EMAs are currently moving upwards as the Litecoin market recovers. However, as time passes, the 26-EMA has been catching up to the 12-EMA suggesting a bearish pressure at the current price level.  The RSI was d...

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