- Litecoin token over the monthly chart is reached under the significant supply zone, after a good recovery from the lower levels.
- The digital asset is trading above the all-important moving average lines of 20, 50, 100, and 200-days, with moderate volume activity.
- The pair of LTC/BTC is trading at 0.003185 BTC with an intraday jump of 8.95%, and the ratio of LTC/ETH is CMP at 0.04963 ETH with a minor 24-hour change of +2.16%.
Litecoin token over the monthly chart is heading towards the vital supply zone of $208 to $234, with a sharp recovery from the lower levels. Meanwhile, the crypto asset jumps above its critical moving averages of 20, 50, 100, and 200-day lines. With solid buying action, LTC Bulls push the token towards the higher side, but at the same time, test the resistance zone. Volume activity over the chart is average and needs to improve enormously in the upcoming trading sessions.
Once the coin clears its major supply zone of $208 to $234, supportive volume activity will push more upside till $280 to $320. Support on the lower side is $167 and $140, whereas resistance on the higher side is $224 and $235.
Litecoin token Bulls is overpowering the Bears at the weekly time frame
Litecoin token Bulls is overpowering the Bears at the weekly time frame, with a sharp upsurge from the lower levels. In contrast, volume active increases over the 4-hours time frame and jumps above-average volume line. The technical parameters over the chart indicate slight caution, with substantial recovery as it reaches under the overbought zone. LTC price is trading at $207 with an intraday gain of +12.34%, and the volume to market cap ratio is 0.2326.
Relative Strength Index (CAUTION): Litecoin token RSI is under the overbought zone, after a sharp recovery from the lower levels. In contrast, the coin trades on a higher note and projects slight caution with longs and RSI at 75.
Moving Average Convergence Divergence (BULLISH): The daily chart projects a bullish trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) is overpowering the seller’s line (red) with a positive crossover.
Support levels: $167 and $140
Resistance levels: $224 and $235.