Litecoin Price Analysis – May 1

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

Litecoin, LTCUSD, CryptoCompare chart

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.

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

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