LTC Price Analysis: LTCUSDT Shows Bullish Recovery As it Marks its Tenth-Year Milestone
Litecoin is currently ranked the fifteenth cryptocurrency by market cap as it marks its tenth-year milestone in the crypto space. LTC holders generally do not see the tenth anniversary to be worth celebrating as their beloved crypto-asset gets dominated by Bitcoin BTC and underperform compared to other altcoins.
Litecoin LTCBTC Monthly Chart
The LTCBTC chart above highlights a bearish trend with the Bitcoin holders seeing more gains compared to LTC holders.
All attempts by LTC bulls against the BTC are to no avail as the price fails to close above a significant resistance, even with a consecutive bullish divergence in June and October ’21. We’ll need to see a price break above 0.007220 for confidence in a general price recovery for the LTCBTC.
However, the LTCUSDT is still promising with bullish recovery signals from the higher time frame, all the way down to the intraday charts. Read on as we uncover the significant chart patterns and price levels driving the LTCUSDT crypto pair.
Litecoin LTCUSDT Weekly Chart
The Litecoin price maintains a bullish outlook even after the market-wide price plunge on 10 May ’21, as the relative strength index trade above level-25 since 27 July ’20.
A recent bear-trap candlestick pattern on 27 September ’21 brings hope to LTC holders who have seen stunted returns and recovery compared to BTC and other ALT coins.
Litecoin LTCBTC Daily Chart
The 28 September bullish divergence on the daily chart above supports the bear-trap candlestick pattern on the weekly time frame, forcing the LTC price into an upbeat trajectory as old resistance [$187.00] of 24 September are now switched into support.
Bullish momentum at press time forced the LTC price above the 07 October high [$187.0] with a projected target at $240.00.
Litecoin LTCUSDT 4 Hr Chart
The regular bullish divergence support on 12 October ’21 08:00 fixed the LTC support level at $166.30 and advanced further to break the 14 October ’21 00:00 bearish divergence resistance, and flipping it into a new support level.
Although the RSI confirms a new uptrend at press time, the RSI values could drop below level-75, forcing a correction of the LTC exchange rate. The upward trend should persist as long as the RSI does not drop below level-25.