During July, the price of Litecoin has been fluctuating between $100 and $148. The price of LTC reached its lowest point on July 19th, when it was $104. The monthly high was reached on July 4th, when the LTC/USD pair touched a new high of $147. Since then, negative momentum has taken hold of the bitcoin market. The bearish trend persisted for the following five days, with the price hitting its lowest point before regaining positive momentum and moving up towards the $147 level.
Low volatility reigns supreme on the LTC/USD 4-hour chart.
LTC/USD is displaying lower volatility than the previous week on the 4-hours candlestick chart. The price has already risen beyond the $135 level to $144.76 at the time of writing, thanks to a reverse head and shoulders pattern. The Bollinger band volatility of the coin also shows a positive reduction in the volatility area.
Green candles have led the market in the last 24 hours, with the volume on the lower side. While the 9-day moving average also shows a good price climb that is likely to continue unless another pattern interrupts it.
In the previous 24 hours, the price of LTC has moved: The 1-day chart supports the bullish trend.
The LTC/USD 1-day candlestick chart reflects the positive momentum the coin is experiencing at writing. The data shows that the volatility of LTC/USD was quite high in May and June. However, LTC/USD is displaying relatively little volatility in July.
Since the beginning of July, volatility has decreased, and the negative momentum has been driven away by the bullish momentum to keep the market under control. As observed in Litecoin price analysis, the negative trend was entirely shelved after mid-July. The negative momentum has resurfaced in the last hour, but the bullish momentum has also resurfaced, driving the price back into the positive momentum.
The negative momentum is gaining control of the market because of low trading volume, while the bullish momentum keeps the coin afloat thanks to low volatility and moving averages.
Ten of the 26 technical indicators accessible to us indicate a buy signal, while the remaining eight are neutral, indicating a strong purchasing position. However, according to Litecoin price research, just eight indicators out of the total indicate a sell signal. Two of the 11 oscillator indications stand for buying and selling, while the other seven are neutral. Eight of the fifteen moving average indicators indicate a buy signal, one indicating neutral, and six indicating a sell signal.
Conclusion of the Litecoin price analysis: LTC/USD is progressively moving higher.
Litecoin is experiencing a strong bullish trend when writing, with the trading volume being the main drawback. According to Litecoin price research, if trading volume grows, the currency is highly likely to hold present support and break beyond the resistance level to the $145 and beyond highs. On the other hand, if the negative momentum takes hold of the market, it might fall as low as $130 before retesting the $140 resistance level.