Is Litecoin Token Bullish Trend Getting Ready For $300 Mark?

  • Litecoin token is now consolidating at the higher levels, after a strong bullish rally over the monthly chart with a slight increment in volume action. 
  • The crypto asset over the monthly chart is trading above all major moving averages of 20, 50, 100, and 200-day lines, with a positive crossover of short-term moving averages over major DMA lines. 
  • The pair of LTC/BTC is trading on a negative note at 0.004171 BTC with an intraday loss of -4.65%, and the ratio of LTC/ETH is CMP at 0.05592 ETH with a 24-hour change of -3.01%.  

Litecoin token is presently consolidating at the higher levels after witnessing an excellent or decisive buying action from lower levels. The crypto asset over the monthly chart is trading on a bullish note with positive activity over the vital moving averages. In contrast, the coin is currently placed above all crucial moving averages of 20, 50, 100, and 200-DMA lines, with slight positive volume action.

The short-term moving averages of 20 and 50-DMA lines are heading towards the 100 and 200-DMA for a positive crossover. Volume over the monthly chart is witnessing a slight increment from lower levels, which also jumps above its average line. Support on the more downside is at $189 and $158, whereas resistance on the higher side is $240 and $295. 

Litecoin token faces minor pullback from the higher side at weekly chart

Litecoin token faces minor pullback from the higher side on the weekly chart after a strong bullish rally. The technical parameters project slightly bearish momentum over the short-term time frame, and volume also falls lower. Presently, litecoin is trading at $219 with an intraday dip of -2.97%, and the volume to market cap ratio is at 0.2655. 

Relative Strength Index (NEUTRAL): litecoin token RSI presently indicates a sideways with a slightly bearish trend over the weekly chart. In contrast, the RSI is heading lower after testing the overbought zone and CMP at 58.    

Moving Average Convergence Divergence (BEARISH): This currently indicates a bearish trend on the daily chart. The seller’s line (orange) is overpowering the buyer’s signal line (blue), with no sign of any significant recovery.

Support levels: $189 and $158

Resistance levels: $240 and $295.