Litecoin (LTC) Consolidates Price Above $60 Amid Positive Indicators

One sentence summary – Litecoin is currently consolidating its price above $60, with technical indicators and order flow data suggesting that this trend may continue, although caution should be exercised as a breach of the $63 support level could lead to a decline.

At a glance

  • Litecoin (LTC) is consolidating its price above the $60 mark.
  • Technical indicators and order flow data suggest that this trend may persist.
  • LTC bulls have successfully defended the August 2022 range-high of $63.
  • Notable sell limit orders were placed at $66 and $70, potentially acting as resistance levels.
  • If Bitcoin continues to consolidate above $25k, it could have a positive impact on Litecoin’s price range.

The details

Litecoin (LTC), a widely recognized cryptocurrency, is currently consolidating its price above the $60 mark.

Technical indicators and order flow data are suggesting that this trend may persist.

This article provides a comprehensive overview of Litecoin’s current situation, its recent price movements, key resistance levels, and potential future price trajectories.

Litecoin’s Price Action

At present, Litecoin’s price action is above the August 2022 range-high of $63.

The most recent weekly candlestick session closed above this range-high, signaling a bullish defense.

A bearish order block near $68 and an immediate resistance level at $65 are visible on the 4-hour chart.

LTC Bulls Defending Range-High

Since the mid-August price dump, LTC bulls have successfully defended the August 2022 range-high of $63.

In the coming hours or days, Litecoin could continue its consolidation above the range-high.

However, if the price falls below $63, it could depreciate towards the mid-range of $57 or the range-low of $50.5.

Indicators and Order Flow Data

In early September, the H4 RSI did not exceed the 50-mark, indicating subdued buying pressure.

The Chaikin Money Flow (CMF) has crossed zero, suggesting significant capital inflows into the LTC markets.

On Binance Exchange’s spot market, notable sell limit orders were placed at $66 and $70, which could act as resistance levels.

Notable buy-limit orders were placed at $60, $55, and $50, indicating potential support levels.

Bitcoin’s Impact on LTC

If Bitcoin (BTC) continues to consolidate above $25k, it could have a positive impact on Litecoin’s price range, potentially extending it above $60.

Currently, Litecoin (LTC) is in a phase of price consolidation above $60.

Technical indicators and order flow data suggest that this trend may continue.

The recent bullish defense, along with buy-limit orders and significant capital inflows, indicates a positive sentiment in the LTC markets.

However, investors should exercise caution, as a breach of the $63 support level could lead to a decline towards the mid-range or lower end.

The influence of Bitcoin’s stability above $25k on LTC’s price range should also be taken into account.

Article X-ray

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This section links each of the article’s facts back to its original source.

If you have any suspicions that false information is present in the article, you can use this section to investigate where it came from.

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– Litecoin (LTC) could continue its price consolidation above $60 based on technical indicators and order flow data.
The current price action is above the August 2022 range-high of $63.
The recent weekly candlestick session closed above the range-high, indicating bullish defense.
On the 4-hour chart, there is a bearish order block near $68 and an immediate resistance level at $65.
– LTC bulls have defended the August 2022 range-high of $63 since the mid-August price dump.
– LTC could extend its consolidation above the range-high in the next few hours/days.
A breach below $63 could lead to depreciation towards the mid-range of $57 or the range-low of $50.5.
The H4 RSI has not gone above the 50-mark in early September, indicating subdued buying pressure.
The CMF has crossed zero, indicating substantial capital inflows to LTC markets.
– Significant sell limit orders were placed at $66 and $70 on Binance Exchange’s spot market.
– Significant buy-limit orders were placed at $60, $55, and $50.
If BTC continues consolidating above $25k, LTC could extend its price range above $60.

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