{"id":33672,"date":"2022-10-31T05:08:07","date_gmt":"2022-10-31T05:08:07","guid":{"rendered":"http:\/\/egrowonline.com\/?p=33672"},"modified":"2022-10-31T05:08:07","modified_gmt":"2022-10-31T05:08:07","slug":"litecoin-price-revisits-56-what-is-next-for-the-bulls","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=33672","title":{"rendered":"Litecoin Price Revisits $56, What Is Next For The Bulls?"},"content":{"rendered":"


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Litecoin price witnessed an increase in value over the last 24 hours. In the past day, the coin surged more than 3%.<\/p>\n

The past week for LTC has remained quite positive for the altcoin as it logged over a 9% gain in that timeframe.<\/p>\n

The coin has continued to form higher highs on its chart, demonstrating that the bulls were in control of the price.<\/p>\n

That caused the altcoin to break its consolidation and shatter above important resistance marks. The technical outlook for the coin was bullish at the time of writing.<\/p>\n

The demand for Litecoin registered appreciation as demand for the coin also shot up. The coin has established strong support for itself at the $53 price mark.<\/p>\n

Currently, LTC trades at a vital price mark as the coin has struggled to move past this price level for the past several weeks.<\/p>\n

If the bulls fail to sustain the price at the current price, a fall through the $53 support line will bring the bears back on the chart.<\/p>\n

At this price mark, LTC is trading at an 86% low compared to its all-time high that the coin secured in May 2021.<\/p>\n

Litecoin Price Analysis: One-Day Chart<\/h2>\n
\"Litecoin
Litecoin was priced at $56 on the one-day chart | Source: LTCUSD on TradingView<\/a><\/figcaption><\/figure>\n

LTC was trading at $56 at the time of writing. After a solid consolidation, the coin has finally been able to revisit the $56 price mark.<\/p>\n

If Litecoin has to remain bullish, it has to continue trading above its current price zone. The coin will encounter immediate resistance at $57.<\/p>\n

A move above $57 will help LTC to touch the $60 price mark. On the other hand, a slight loss in bullish strength, can drive the altcoin\u2019s price down to $53 and then to $50.<\/p>\n

The amount of Litecoin traded in the past session was in the green. This means that the buyers were back on the chart.<\/p>\n

Technical Analysis<\/h2>\n
\"Litecoin
Litecoin registered increased buying strength on the one-day chart | Source: LTCUSD on TradingView<\/a><\/figcaption><\/figure>\n

The altcoin has implied that the bulls were back as the demand for the altcoin noted an uptick on the one-day chart.<\/p>\n

The Relative Strength Index was at the 60-mark, a sign of bullishness as buyers were more in number than sellers.<\/p>\n

Litecoin price was above the 20-SMA line, which meant increased demand for the coin and also showed that buyers were driving the price momentum in the market.<\/p>\n

\"Litecoin
Litecoin depicted buy signal on the one-day chart | Source: LTCUSD on TradingView<\/a><\/figcaption><\/figure>\n

The other technical indicators have also inclined towards the idea that bullishness has caused buying strength to increase on the one-day chart.<\/p>\n

The Moving Average Convergence Divergence displays the price momentum and the direction of the asset.<\/p>\n

The MACD was bullish with green histograms above the half-line, which was the buy signal for the asset. Bollinger Bands indicate the price fluctuations and volatility of the coin.<\/p>\n

The bands were starting to expand, hinting that there could be a chance of an upcoming price fluctuation.<\/p>\n<\/p><\/div>\n


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Litecoin price witnessed an increase in value over the last 24 hours. In the past day, the coin surged more than 3%. The past week for LTC has remained quite positive for the altcoin as it logged over a 9% gain in that timeframe. The coin has continued to form higher highs on its chart, […]<\/p>\n","protected":false},"author":1,"featured_media":33673,"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":[211,199,195,12061],"class_list":["post-33672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-litecoin","tag-bulls","tag-litecoin","tag-price","tag-revisits"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/10\/michael-fortsch-I1PywtFZY6s-unsplash.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33672","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=33672"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33672\/revisions"}],"predecessor-version":[{"id":33674,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/33672\/revisions\/33674"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/33673"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33672"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}