empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

26.05.202116:43 Forex Analysis & Reviews: LITECOIN Hot Forecast for 26 May

  • LTC retested support at $170 overnight.
  • A slightly higher high set over the last 24 hours.
  • Next resistance at $220.

Exchange Rates 26.05.2021 analysis

Litecoin prediction is bullish as the market continues moving higher over the last 24 hours. The previous support at $170 was retested overnight, and further upside followed. From there, the market should move to break the $220 resistance over the next 24 hours.

The LTC/USD price moved in a range of $170 – $204, indicating a moderate amount of volatility for the cryptocurrency. The trading volume has decreased by 16.2 percent over the last 24 hours, while the total market cap stands at $12.8 billion, ranking the cryptocurrency in 15th place overall.

The overall market continues moving lower after setting a new all-time high at the $413 mark last month. From there, LTC/USD has retraced over 70 percent and established a new major swing low at $120. Therefore, bears are likely exhausted, and we can expect the market to retrace in a major way over the next few days.

Looking at the price action over the past week, we can see that bears managed to set only a slightly lower low on the previous push down. This means a push above the $200 could be the last lower high we see. From there, LTC/USD should establish a higher low and move forward with regaining the loss seen over the past weeks.

The first strong signal for a market reversal would be a clean break above the $220 resistance. From there, the Litecoin price should set a higher low and start to trend higher.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Jan Novotny,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaSpot
Download MetaTrader 4 and open your first trade
Não pode falar agora?
Faça sua pergunta no chat.