Litecoin Price Movement Analysis for 3rd April, 2021

Spread the love

For the last few days, the cryptocurrency industry has been playing chase with the bulls and bears. The economy has been swinging between the immediate highs and lows, as seen in the Litecoin altcoin market.

At the time of publication, LTC was on an upward trajectory, having risen 16 percent in two days from $187.71 to $218. However, a retracement was evident, resulting in LTC trading at $210.40.

Litecoin 4-hour chart

The above chart showed that the price of LTC had been gradually declining until recently, giving the bears the upper hand. However, as market sentiment changed, the price began to retrace, followed by a sudden rally that also substituted the bears with the bulls.

The current price was constructed within an ascending channel; however, the trend’s breakout could be lower on the price scale.


The market’s uncertainty has risen, as demonstrated by the separation of the Bollinger Bands. The increasing uncertainty may be a double-edged sword for the LTC value, as selling pressure was also on the rise. The price of LTC could be pushed towards the support level of $200 if the pattern breaks.

RECOMMENDED READ:  Hackers are Stepping Up the Pace of Hacking Cryptocurrencies. Protect Your Safety

Although the relative strength index has shown that the digital asset has advanced from equilibrium to overbought territory. Nonetheless, the selling pressure noticeable at the time of publication has driven LTC below the overbought zone. This may be an effort to stabilise the asset’s worth. Meanwhile, sentiment has remained incredibly bullish and has yet to shift to the bearish side.

Important levels to watch out for

Entry-level: $211
Take Profit: $200.91
Stop-level: $215.42
Risk and Reward: 1.36


The new LTC market has been signalling an overly optimistic market, which might shift to bears if selling pressure rises. The ascending channel pattern is pending breakup, and given the market’s intense bullishness, a reversal might bring the price down to the $200 support range.

 488 Interactions,  4 today

Bitcoin Price Movement Analysis for 16th April, 2021

Today, the Bitcoin price is plummeting as buyers race to win after it hit an all-time high of $64,945. Bitcoin Read more

The Nigerian Securities and Exchange Commission (SEC) claims that the central bank’s crypto ban has caused business disruption.

The Nigerian Securities and Exchange Commission says it is collaborating with the central bank to develop a regulatory system for Read more

RECOMMENDED READ:  Why China's CBDC isn't about beating the dollar; it's about dominating the domestic economy.
Finance authorities dismiss cryptocurrencies, in the wake of Coinbase’s IPO celebrations

Economic gatekeepers are taking a closer look at blockchain as mainstream coverage of the Bitcoin bubble and Coinbase listing intensifies. Read more

Romanian university intends to consider cryptocurrency payments for admissions fees.

The academic college, which has about 11,000 students, stated that the inclusion of crypto payments was part of a campaign Read more

Bitcoin Price Movement Analysis for 11th April, 2021

Is Bitcoin nearing its peak? It's unlikely. Many on-chain measurements revealed that, although Bitcoin was highly bullish, it had not Read more

Fidelity’s Tom Jessop on why Crypto has reached a “tipping point.”

The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more

How arrests for attempting to obtain a hitman and a nuclear bomb demonstrate that the dark web is not always anonymous.

Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more

RECOMMENDED READ:  Bitcoin Will Smash Through $100,000 on This Date, With Select Altcoins Set to Outpace BTC, Predicts Analyst Nicholas Merten
Bitcoin, BTT, Dogecoin Price Movement Analysis for 7th April, 2021

Bitcoin was expected to remain above the $55,800-support, a level that coincided with its 200-SMA. BitTorrent Token was projected to Read more

The cryptocurrency market cap has surpassed $2 trillion, making it as valuable as Apple.

For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more

Why crypto analyst Ben Armstrong says, ‘He Very Confident Bitcoin Will Reach $300K This Year.’

Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more

Binance Coin, Dogecoin, SushiSwap Price Movement Analysis for 4th April, 2021

Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more

Tron Price Movement Analysis for 4th April, 2021

In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more

Leave a Reply

Contact Us