- LTC price is targeting the $40 price mark; however, the coin may have to face many ups and downs before that, considering the current uncertainty
Over the last 24 hours, Litecoin has traced a dip below $37.40 with a sharp fall. It’s not only LTC that has faced such a bearish blow in the last couple of days; the majority of altcoins have gone through ups and downs as Bitcoin price dipped below $6000 once again.
The recovery has taken the price above $38, and the coin may take a day or two to climb above $40, where it was around 3 days ago. The current market situation hints that it may take a little to long to reach above $40.
- Litecoin has formed a support level at $37 today; the coin has recovered by more than 6.64%
The LTC price has formed a support level at $37.12, after which it has risen by more than 4%. Apparent;y, yesterday’s loss of valuation has been recovered today. Notably, yesterday, the coin saw a decline of 4.74% over 24 hours. And at the support level, Litecoin had formed a triple bottom before it rebounded.
- Technical indicators of LTC are painting a bullish picture amid unpredictable market
Here, all the moving averages are giving bullish signals while the MACD indicator is moving towards the bearish zone. RSI is at 54 and is stable. At present, the current price of Litecoin is above the 200-day EMA line, and the short term SMA line is above the longer one with a positive bias.