{"id":436737,"date":"2020-08-31T07:48:12","date_gmt":"2020-08-31T07:48:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=436737"},"modified":"2024-06-11T14:15:45","modified_gmt":"2024-06-11T14:15:45","slug":"litecoin-price-bullish-case-rally-70","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin-price-bullish-case-rally-70\/","title":{"rendered":"Litecoin Price Holds Strong at $60: A Bullish Case For Rally To $70"},"content":{"rendered":"<ul>\n<li>Litecoin started a steady recovery wave from the $53.50 and $54.00 support levels against the US Dollar.<\/li>\n<li>The price is now trading nicely above the $60.00 level and the 100 simple moving average (4-hours).<\/li>\n<li>There was a break above a major bearish trend line with resistance near $58.00 on the 4-hours chart of the LTC\/USD pair (data feed from Kraken).<\/li>\n<li>The bulls seem to be aiming a larger upward move towards the $68.00 and $70.00 levels.<\/li>\n<\/ul>\n<p><em>Litecoin price is gaining momentum above $60.00 against the US Dollar. LTC is likely to continue higher towards $68.00 or $70.00 as long as it is above $58.00.<\/em><\/p>\n<h2>Litecoin Price is Rising Steadily<\/h2>\n<p>After a steady decline, there was a recovery wave in <a href=\"https:\/\/uniquehot.com\/2020\/08\/31\/bitcoin-shows-signs-of-reversal\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>, <a href=\"https:\/\/uniquehot.com\/2020\/08\/31\/ethereum-smashes-heavy-resistance\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>, ripple and litecoin against the US Dollar. Both ETH and LTC performed really well, and surged more than 5% in the past few sessions.<\/p>\n<p>Litecoin price formed a support base above $55.00 and started a steady recovery wave above $60.00. There was a clear break above the 50% Fib retracement level of the downward move from the $68.92 high to $53.64 low.<\/p>\n<p>Moreover, there was a break above a major bearish trend line with resistance near $58.00 on the 4-hours chart of the LTC\/USD pair. The pair is now trading nicely above the $60.00 level and the 100 simple moving average (4-hours).<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-436738\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?resize=1828%2C868\" alt=\"Litecoin Price\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/Litecoin-1.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Litecoin price above $60.00. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/LTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>An initial resistance is near the $63.00 level. It is close to the 61.8% Fib retracement level of the downward move from the $68.92 high to $53.64 low. If there is a clear break above $63.00, the price might rise steadily towards the $65.00 level.<\/p>\n<p>The main resistance is near the $68.00 level and $70.00 handle. The bulls are likely to target a test of the $70.00 resistance in the coming sessions.<\/p>\n<h2>Dips Likely Supported in LTC<\/h2>\n<p>If litecoin fails to continue above the $638.00 resistance, there are chances of a downside correction. On the downside, the first major support is near the $60.00 level and the 100 simple moving average (4-hours).<\/p>\n<p>The next key support is near the $58.00 level, below which there is a risk of a fresh decline towards the $54.00 and $53.50 support levels.<\/p>\n<p>Technical indicators:<\/p>\n<p>4-hours MACD \u2013 The MACD is showing positive signs in the bullish zone.<\/p>\n<p>4-hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is currently correcting lower from the 70 level.<\/p>\n<p>Major Support Levels \u2013 $60.00 followed by $58.00.<\/p>\n<p>Major Resistance Levels \u2013 $68.00 and $70.00.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Litecoin started a steady recovery wave from the $53.50 and $54.00 support levels against the US Dollar. The price is now trading nicely above the $60.00 level and the 100 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $58.00 on the 4-hours chart of the LTC\/USD pair (data feed from Kraken). The bulls seem to be aiming a larger upward move towards the $68.00 and $70.00 levels. Litecoin price is gaining momentum above $60.00 against the US Dollar. LTC is likely to continue higher towards $68.00 or $70.00 as long as it is above $58.00. Litecoin Price is Rising Steadily After a steady decline, there was a recovery wave in bitcoin, Ethereum, ripple and litecoin against the US Dollar. Both ETH and LTC performed really well, and surged more than 5% in the past few sessions. Litecoin price formed a support base above $55.00 and started a steady recovery wave above $60.00. There was a clear break above the 50% Fib retracement level of the downward move from the $68.92 high to $53.64 low. Moreover, there was a break above a major bearish trend line with resistance near $58.00 on the 4-hours chart of the LTC\/USD pair. The pair is now trading nicely above the $60.00 level and the 100 simple moving average (4-hours). Litecoin price above $60.00. Source: TradingView.com An initial resistance is near the $63.00 level. It is close to the 61.8% Fib retracement level of the downward move from the $68.92 high to $53.64 low. If there is a clear break above $63.00, the price might rise steadily towards the $65.00 level. The main resistance is near the $68.00 level and $70.00 handle. The bulls are likely to target a test of the $70.00 resistance in the coming sessions. Dips Likely Supported in LTC If litecoin fails to continue above the $638.00 resistance, there are chances of a downside correction. On the downside, the first major support is near the $60.00 level and the 100 simple moving average (4-hours). The next key support is near the $58.00 level, below which there is a risk of a fresh decline towards the $54.00 and $53.50 support levels. Technical indicators: 4-hours MACD \u2013 The MACD is showing positive signs in the bullish zone. 4-hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is currently correcting lower from the 70 level. Major Support Levels \u2013 $60.00 followed by $58.00. Major Resistance Levels \u2013 $68.00 and $70.00.<\/p>\n","protected":false},"author":67,"featured_media":436740,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16897,4],"tags":[2828,81591,2831,81590],"class_list":["post-436737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-litecoin","category-analysis","tag-ltc","tag-ltc-btc","tag-ltcusd","tag-ltc-usdt"],"acf":[],"yoast_head":"\n<title>Litecoin Price Holds Strong at $60: A Bullish Case For Rally To $70<\/title>\n<meta name=\"description\" content=\"Litecoin price is gaining momentum above $60.00. 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