Litecoin Price Analysis – May 1
LTCUSD Medium-term Trend: Ranging
Resistance: $152, $150, $ 148
Support: $140, $142, $144
Yesterday, April 30, price Litecoin price was trading above the $150 level.
It was stated that if the bulls do not sustain a hold on the price, Litecoin may fall to the low of the previous level. On the other hand, if the price continues its range-bound movement, there is a possibility of another breakout. Today, Litecoin price is currently trading at $145.77. However, the weekly chart shows that the price found a support at $145. This is the third time the price will be testing that level.
Another aspect is that it has established a trading range. The asset now trades between the resistance level at $155 and the support level at $145. There is a tendency for the price to break any of these levels. However, if price breaks the support level, Likecoin may fall to $140. But if the bulls break the resistance level at $155, the price is likely to reach the $160 high and above.
LTCUSD Short-term Trend: Bearish
The daily chart shows that the Litecoin price was bearish after it fell from a range-bound movement. At $144, it started a range bound movement and later a bullish movement. Litecoin price is expected to rise.
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