For several weeks, the bulls have had complete control of the price graphs, and today they were able to proclaim a price increase. The price has risen to $186.26, indicating that the bulls may have staged a strong recovery in the previous 24 hours.
The bulls were able to rebound, and the price climbed again over $186. The price might rise much higher in the next hours, which is great news for purchasers.
Price Analysis for Litecoin for the Next 24 Hours: Bullish Signals
As the positive impetus has been reignited, the one-day Litecoin price analysis predicts a price gain. Thus, even though the price has lately decreased, today’s action has once again favored the bulls.
Litecoin has increased by almost 8% in the last week: The price began at $166.6 and eventually rose to $175.8. On the other hand, the bulls were faced with strong resistance values, causing them to tumble somewhat. Following an adjustment in which support levels were challenged many times, they continued to fall until they reached $166 once more. There was no noticeable increase in value. Nonetheless, the bulls have made a return in the previous 24 hours and may be able to break through the $180.9 MA mark.
After many weeks of straight gains, the 30-day price analysis predicts continuing price increase, with analysts predicting the price to reach beyond $200 once more.
Analysis of the Litecoin price: It has returned to $187
The four-hour Litecoin price analysis is exhibiting signals of positive momentum following the previous decline. After the upward impetus was reignited, the price levels have recovered to $186.3. A negative trend has been in force for the previous few hours, but bulls have reclaimed control. The price has dropped as a result of the previous decline.
Litecoin is now trading at $186.26 and is expected to rise further in the next few days. This would be a great time to acquire some coins and lock in some profits if the price drops in the following weeks. However, before the bulls can begin to rise again and test additional resistances such as $199 or perhaps $200, they will most likely meet heavy resistance around $191 – $192. As you can see from this 30-day chart, Litecoin has been gradually climbing since the beginning of April, overcoming all hurdles in its path.
A crossing between SMA 20 and SMA 50 has occurred in recent weeks, confirming the bullish trend. The Bollinger Bands Indicator shows the upper and lowers limits values: $197.65 for the higher limit and $147.02 for the lower limit. The RSI score for today is 58.92.
With a strong bullish signal, the moving averages indicator is giving support for the bulls. Currently, twelve indications are in the purchasing zone, two are in the selling zone, and one is in the neutral zone. The oscillators are neutral; seven oscillators are at neutral levels, while two are at selling and buying levels.
The bulls have regained control of the price levels after many days of testing, allowing them to increase by more than 7%. This is great news for investors since it may signal that Litecoin is on the verge of another long-term rise.
The bulls’ initial objective would be to achieve $190 – $191, which would need breaking over the first barrier level. This will be a crucial assignment, and there is no question that they will want to do it as soon as possible.