Welcome to today’s Litecoin price analysis. The coin zoomed past the $60 resistance towards the end of Tuesday. Will the uptrend continue?
Yesterday, January 28, the price of Litecoin (LTC) traded in the bullish trend zone. In the last three days, LTC bulls have continued to dominate the market where the market price spiked from $53 support level to $61 resistance. The market is now trading above the 9-day and 21-day Moving Averages (MA).
Today, Litecoin price is consolidating after a slight drop from the $61 resistance. At the time of writing this Litecoin price analysis, the coin is changing hands at the $60 level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.
On the 1-hour chart, LTCUSD price is clearly trading in a bullish zone. However, if the bulls fail to push the price above the $64 level, a downward correction is likely to occur. However, various support levels are likely to come in handy, including the $60 level.
In the meantime, the MACD line and the signal line are above the zero line which indicates a buy signal.
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