Litecoin

The post <a href="https://coinpedia.org/price-analysis/litecoin-price-hints-bullish-reversal-will-ltc-price-retest-its-upper-level-soon/">Litecoin Price Hints Bullish Reversal! Will LTC Price Retest Its Upper Level Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
After trading in a bearish pattern for a brief period, the Litecoin price has displayed a significant jump in the chart, indicating a possibility of a bullish reversal in the market. Moreover, the LTC coin has added over 5% within the past day, making it one of the top gainers of the day. 
The <a href="https://coinpedia.org/price-prediction/ltc-litecoin-price-prediction/">LTC price</a> traded in a closed range between $71.76 and $74.44 for about a week, following which the bulls broke out of the resistance level. The rally was short-lived as the price faced restriction at $77.29, after which the price traded sideways for a while. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/SjYpGkYRYtK1yzcjT5eQCkz4QmX4wtUiWItwAkmQvV5KN2Ti1EN9Ot11flyAAFXmRWPfHaoG-cSKDNbIAPdEZSnmGhtDld8Po--tWW-cBvnSGHDeN1QEwa0HdsyjCsb-3h0a1li5HtiJEdM2hIt3ZLU" alt="Litecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: LTC/USDT
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After multiple failed attempts to break out of the resistance level, the bulls lost momentum and experienced a pullback within the range, where it traded sideways for a while. As the market lost momentum, Litcoin recorded a correction of approximately 15% in valuation. 
Following this, the Litecoin price traded sideways between $63.37 and $66.11 for about a week. As the market regained momentum, the LTC price jumped approximately 22% in valuation. 
After facing rejection, the price has been constantly trading in a consolidated range between $68.01 and $71.76. Currently, the Litcoin price is testing a breakout at its resistance level of $71.76, of which the outcome is uncertain. 
<h2 class="wp-block-heading" id="h-will-ltc-price-hit-75-soon">Will LTC Price Hit $75 Soon?</h2> 
The Relative Strength Index (RSI) displays a bearish convergence, suggesting an increased selling-over-buying pressure in the market. Further, the averages show a rising pattern, highlighting a mixed sentiment in the crypto space. 
If the market holds the price above the support level of $71.76, the LTC price will test its resistance level of $74.44 soon. Maintaining the price at that level will set the stage for Litecoin to attempt to test its upper resistance level of $77.29 in the coming time. 
Conversely, if a trend reversal occurs, the bulls will lose momentum and fall to test its support level of $68.01. Moreover, if the market continues to trade under a bearish influence, the Litecoin price will prepare to test its lower support level of $66.11 during the week ahead.

Litecoin Price Hints Bullish Reversal! Will LTC Price Retest Its Upper Level Soon?

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