Litecoin reflects a strong recovery during its intraday movement. Yesterday, it marked a dramatic movement that pulled the price to $40, but today the growth is clear and indicates a steep improvement in the price chart. In the upcoming hours, LTC might reflect a sharp bullish move.
Litecoin Price Analysis
Yesterday, LTC price spotted at $40.15 during the opening hour, and in the next hour, the price escalated to $40.91. However, the currency couldn’t hold at this level for long and dropped to $40.20 at 03:00 UTC. Over the next 3 hours, the Litecoin price improved and touched $41 mark. Again, it took a steep fall from this high in the later hours, and at 10:01 UTC, the coin spotted at $40.15. Then, the currency traded with a moderate momentum for some time. After that, it again breached $41 mark from $40 .19 by a 2% hike.
In the next hour, Litecoin price faced a steep fall and touched $40.41. From this low, the LTC price escalated to $41.3, but the price dropped to $40.60 and continued to trade around a similar range. The day-long movement brought a 1.17% improvement.
Today, Litecoin started trading on a positive note, and by 09:00 UTC, the price touched $41.2. Later, the coin managed to hold a similar momentum and reached $41.14 at the time of writing. LTC price trades above its short-term moving averages and the MACD indicator reflects bullish signal.
The current price of Litecoin has violated the immediate resistance level at $41.39, and in the coming hours, would breach the next one at $41.7.
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