{"id":28692,"date":"2022-09-11T09:55:37","date_gmt":"2022-09-11T09:55:37","guid":{"rendered":"http:\/\/egrowonline.com\/?p=28692"},"modified":"2022-09-11T09:55:37","modified_gmt":"2022-09-11T09:55:37","slug":"litecoin-price-winning-streak-may-break-65-barrier-but-theres-a-catch","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=28692","title":{"rendered":"Litecoin Price Winning Streak May Break $65 Barrier, But There&#8217;s A Catch."},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-121450\">\n<div class=\"marketThumbs\">\n<img loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"433\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Litecoin price\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2021\/10\/04170407\/litecoin-a-770x433-1.jpeg\" \/><img loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"433\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2021\/10\/04170407\/litecoin-a-770x433-1.jpeg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Litecoin price\" \/><\/div>\n<p class=\"MarketsUp f-14 d-block\">Published 6 hours ago <\/p>\n<div class=\"Atcs\">\n<p><span data-preserver-spaces=\"true\">A <a target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/litecoin-price-jumps-6-in-two-day-are-you-still-buying\/\" rel=\"noopener\">bull cycle<\/a> within a rising parallel channel pattern strikes the monthly resistance of $65. This horizontal level has limited the bullish growth for the past three months, indicating a high possibility of price reversal. However, even if the Litecoin price breach resistance, the bullish path is filled with more significant obstacles.\u00a0<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Key points from Litecoin price analysis:\u00a0<\/span><\/strong><\/h2>\n<ul>\n<li><span data-preserver-spaces=\"true\">The LTC price responded to a parallel channel pattern<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The LTC price shows supply pressure at the $65 resistance<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">The intraday trading volume in the Litecoin coin is $605.1 Million, indicating a 3.67% loss.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" alt=\"Litecoin price chart\" width=\"1942\" height=\"1106\" src=\"https:\/\/s3.tradingview.com\/snapshots\/i\/IddXvI9P.png\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/i\/IddXvI9P.png\" alt=\"Litecoin price chart\" width=\"1942\" height=\"1106\" \/>Source- <\/span><span data-preserver-spaces=\"true\">Tradingview<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Over the past few weeks, the crypto market witnessed some significant correction which plunged bitcoin and even major altcoin near their 2022 low. Though the Litecoin price went through a similar retracement phase, the coin buyers managed to sustain above the $52.5 support zone.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Thus, after multiple retests to this support, the replenished bullish momentum reverted the prices on September 7th. The bullish reversal also assisted buyers in maintaining a <a target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/parallel-channel-pattern\/\" rel=\"noopener\">rising parallel channel pattern<\/a>, which has been carrying the current recovery rally for three months.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Litecoin price is rising for the fifth consecutive day, registering a 20.2% growth. However, the bullish rally hits the monthly resistance of $65 and struggles to rise above. A bearish reversal from this horizontal level will plunge the price back to support the trendline.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Nevertheless, if the coin buyers manage to breach the overhead resistance, the price could surge 6.5% higher before hitting the pattern\u2019s trendline. Thus, in response to this pattern, the Litecoin price could turn down from this resistance to trigger a new bear cycle.<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">In addition, the rising channel patterns themselves tend to resume prevailing downtrends. As a result, the LTC price is poised to breach this support trendline, which could intensify the bearish trend.<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">Therefore, until the prices don\u2019t break the resistance trendline, the altcoin will be under correction threat.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Technical indicator<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\"><strong>EMAs:<\/strong> the 20-and-50-day EMA moving sideways accentuates the prior bear trend is fading. Moreover, a crossover between these slopes gives an additional boost for $65 resistance.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><strong>Relative strength index:<\/strong> the <a target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\" rel=\"noopener\">daily-RSI slope<\/a> is rising higher into the bullish territory, indicating growing confidence for market participants for the current recovery.<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Resistance Levels: $65 and $69.2<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Support Levels: $58.8 and $52.6<\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA121450\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nFrom the past 5 years I working in Journalism. I follow the Blockchain &amp; Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. raech out to me at brian (at) coingape.com\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&amp;d=mm&amp;r=g\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" \/> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD121450\">\n<p> The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><a target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\" rel=\"noopener\">Close Story<\/a>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/coingape.com\/markets\/litecoin-price-winning-streak-may-break-65-barrier-but-theres-a-catch\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Published 6 hours ago A bull cycle within a rising parallel channel pattern strikes the monthly resistance of $65. This horizontal level has limited the bullish growth for the past three months, indicating a high possibility of price reversal. However, even if the Litecoin price breach resistance, the bullish path is filled with more significant [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[43],"tags":[4732,439,5944,199,195,7980,4353],"class_list":["post-28692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-barrier","tag-break","tag-catch","tag-litecoin","tag-price","tag-streak","tag-winning"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/litecoin-a-770x433-1.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28692"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28692\/revisions"}],"predecessor-version":[{"id":28694,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28692\/revisions\/28694"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/28693"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28692"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}