Litecoin Price Prediction: LTC/USD is bullish throughout the weekend

Litecoin price prediction is bullish.The LTC USD pair is now approaching a critical resistance level.Bulls dominate Litecoins market.
Litecoin price prediction is bullish.The LTC USD pair is now approaching a critical resistance level.Bulls dominate Litecoin's market.

Summary

  • Litecoin price prediction is bullish.
  • The LTC-USD pair is now approaching a critical resistance level.
  • Bulls dominate Litecoin’s market.

The LTC/USD pair is approaching a fundamental resistance level against the USD, making it an excellent buying opportunity. Litecoin’s price has been solid today as other highs and lows were set over the previous days. We anticipate more gains in the next 24 hours as LTC attempts to break through resistance and support. LTC/USD has been in a well-defined uptrend since the beginning of March. However, a monster resistance at $175 to the USD has been challenging for buyers to break through so far. Litecoin price prediction places LTC/USD at a critical inflection point where bulls have to push past this level if they want to make new highs.

Litecoin price prediction shows that LTC/USD is currently testing the $175 resistance. If and when this obstacle is broken, we should see a significant rally in price as we near new highs. Bitcoin’s rapid movements do not go unnoticed by the rest of the cryptocurrency market, and LTC/USD is no exception to this rule.

The chart below shows how LTC/USD has traded over the previous days: We can see that after a surge higher, Litecoin retested previous resistance at $175 before continuing its climb.

Litecoin price movement in the last 24 hours: LTC trading volumes increases

Over the last 24 hours, Litecoin trading volumes have surged by 12% and are currently at $12.3 billion. Meanwhile, the total market cap is at $ 11 billion, ranking the coin 12th on CoinMarketCap

Litecoin price prediction shows that LTC/USD has been caught in a sideways consolidation over the last 24 hours. This is typical after a surge that pushes through a major resistance level, as we have seen with $175. However, a break past this area will open new possibilities for buyers who may now push towards new highs. The technical indicators have been moving within a range as traders and buyers wait for a clear direction.

Litecoin price prediction shows that LTC/USD has been caught in a sideways consolidation over the last 24 hours. This is typical after a surge that pushes through a major resistance level, as we have seen with $175. However, a break past this area will open new possibilities for buyers who may push towards new highs. The technical indicators have been moving within a range as traders and buyers wait for a clear direction.

LTC/USD 4-hour chart: LTC aims to break above $190

Litecoin Price Prediction
LTC/USD 4-hour chart. Source: TradingView

The Ichimoku Cloud uses four metrics to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T), and Kijun (K) cross, and the Lagging Span. The best entry always occurs when most signals flip from bearish to bullish, or vice versa.

The Conversion Line in the indicator window is flat at $160.00, which shows that the current price action is below it. We also see that the baseline (red) is flat at $155.00, which means there is no upward momentum as both lines are balanced, and the price remains within a range on this timeframe.

Litecoin Price Prediction: Conclusion 

Litecoin price prediction shows that LTC/USD will attempt to break above $175 resistance. A significant rally should follow the breakout if successful, leading towards new highs for LTC/USD. We anticipate a further push higher in Litecoin’s price, which is why we have placed our immediate target at $190, from where we expect buyers to take the market higher.

Also, read our Cardano  and Ripple price predictions