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Litecoin Price Analysis: Is LTC/USD Targeting $150?

3 mins
Updated by Valdrin Tahiri
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May 27, 2019, the Litecoin price reached a high of $122. After gradual decreases, the price reached the same levels on May 30 and June 7.
litecoin price Outlook
An upward move which began on June 11 caused the LTC price to break out above this resistance level. The price has been increasing since. (To read our previous analysis click here)

Litecoin Price (LTC): Trends and Highlights for June 11, 2019

  • LTC/USD broke out of horizontal resistance.
  • The breakout occurred with significant volume.
  • The LTC price is trading inside a long-term ascending channel.
  • A bearish divergence has developed in long-term timeframes in the RSI.
  • Moving averages have made a bullish cross.
  • There is resistance near $140 and support near $92.

Previous Movement & Fib Areas

The price of LTC/USD on Bitfinex was analyzed at two-hour intervals from May 27 to June 11 in order to determine the current trading pattern.
On May 27, the Litecoin price reached a high of $122.21. A gradual decrease ensued. The price reached the same level four other times. Tracing these highs gives us a horizontal resistance line.
Previous Litecoin Price
On June 11, the LTC price began an upward move and broke out of the resistance. The breakout occurred with significant volume, indicating that the buyers have strength. Furthermore, the resistance line coincided with the 0.618 fib line of the entire drop from $172 on May 6, 2018. FIB As seen above, the next resistance areas can be found at $140, $154 and $172, coinciding with the 0.786, 0.88 and the full fib extension. The previous two weekly candlesticks were dojis, indicating that there is indecision in the market and signs of a possible reversal. However, this week’s bullish candle invalidated the possibility of an immediate reversal.

Technical Indicators

The price of Litecoin is analyzed at daily intervals in order to determine its current pattern
On Jan 8, the LTC price reached a high of $48.28. A gradual decrease ensued. The price reached a low of $33.2 on Feb 8. Since then, it has been increasing, trading inside the ascending channel outlined below:
Current Pattern

At the time of writing, the price is very close to the resistance line of the channel.

Will it break out?

In order to answer this question, the  price is analyzed at daily intervals alongside the RSI and the 10- and 20- day moving averages below:

Bearish DivergenceOn May 6, the 10-day MA crossed above the 20-day one. This often indicates that an uptrend has begun. In the case of LTC, it initiated the move from $80 to the current price.

However, since reaching a high of $106 on May 16, the RSI has created bearish divergence. This often precedes price decreases.

The use of these indicators makes a breakout from the channel unlikely. The long-term divergence indicates that the upward move is losing power. However, as evidenced by the moving averages, we are in an uptrend. Therefore, increases at the rate predicted by the channel remain a likely possibility.

Finding Long-Term Support

One support and one resistance area is traced for LTC/USD below. If the LTC price begins a decisive upward or downward move, they are likely to provide a reversal.
The closest support area is found near $92. It coincides with the support line of the channel. If the LTC price begins a downward move, it is likely to find support at this level. The closest resistance area is found near $140. If the price continues to increase at the rate predicted by the channel, it will reach this area at the beginning of July.


The Litecoin price is trading inside a long term ascending channel. Based on this analysis, it is likely that the price will continue to increase at the rate predicted by the channel until it reaches the resistance area outlined above.  Do you think the Litecoin price will reach the resistance area? Let us know in the comments below. If you’re interested in 2019 and 2020 price predictions for Litecoin in dollars, click on the blue button below

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for...