Litecoin Price Prediction: LTC Crypto’s Growing Momentum Within This Wedge!

  • The Litecoin price forecast hints at the growing momentum of the LTC cryptocurrency within the rising wedge pattern on the daily chart.
  • LTC cryptocurrency trades at 20, 50, 100 and 200 day daily moving averages.
  • The LTC/BTC pair is at 0.004507 BTC with an intraday gain of 0.61%.

Litecoin price forecast hints at LTC cryptocurrency’s upward momentum within the rising wedge pattern on the daily chart. The LTC cryptocurrency is trading on the lower trendline of the rising wedge pattern and is trying to move back towards the upper trendline. LTC investors need to wait for the token to rally significantly against the daily price chart. The accumulation rate must be maintained for the token to move towards the upper trendline on the daily price chart.

The estimated price of Litecoin is currently $77.3 and has increased in value by 0.58% over the past day. Trading volume decreased by 17.22% during intraday trading. This shows that buyers are waiting for a dip before selling LTC.

According to the growing wedge formation of the daily price chart, the token has risen as per the Litecoin price forecast. The daily chart of the LTC cryptocurrency shows an exciting roller coaster ride. To exit the rising wedge pattern, LTC needs to increase the change in volume, which is now below the mean and needs to be increased. Meanwhile, the LTC cryptocurrency trades at the 20, 50, 100 and 200 day daily moving averages.

Will Litecoin price sustain above the 20 EMA?

LTC cryptocurrency is growing, according to technical indicators. The upward momentum of the LTC cryptocurrency is evidenced by the Relative Strength Index. The RSI is attempting to enter the overbought territory at 58. In the consolidation phase, the MACD shows the declining velocity of the LTC. The MACD line is lower than the signal line after a negative crossover. LTC investors will have to wait until more buyers enter the market and push the price of the token towards the higher level.

Conclusion

Litecoin price forecast hints at LTC cryptocurrency’s upward momentum within the rising wedge pattern on the daily chart. The LTC cryptocurrency is trading on the lower trendline of the rising wedge pattern and is trying to move back towards the upper trendline. LTC investors need to wait for the token to rally significantly against the daily price chart. To exit the rising wedge pattern, LTC needs to increase the change in volume, which is now below the mean and needs to be increased. The MACD line is lower than the signal line after a negative crossover.

Technical levels

Support levels: $75.00 and $60.00

Resistance levels: $80.00 and $85.00

Disclaimer

The views and opinions expressed by the author, or by anyone named in this article, are for informational views only and do not establish financial, investing or other advice. Investing in or trading cryptocurrencies carries the risk of financial loss.

Latest posts by Ritika Sharma (see all)

Add a Comment

Your email address will not be published. Required fields are marked *