As per technical analysis, the Litecoin open-source blockchain network is the largest script-based network with cent percent uptime since the past decade. It is fast and highly secure and the total transaction value executed on this platform equals billions of dollars. LTC is the main governance token of this ecosystem. Past Trends On April 7, 2021, the opening price of LTC was $237.56. As of April 13, 2021, the closing price of LTC was $267.59. Thus, in the past week, the LTC price has surged by roughly 13%. In the last 24 hours, LTC has traded between $266.84-$283. https://ift.tt/3thw84H Day-Ahead and Tomorrow Currently, LTC is trading at $279.41. The price has increased from the opening price of $267.61. Thus, the market looks bullish. The MACD and signal lines have just turned negative after being in the positive territory since morning. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, a trend reversal has occurred and the market momentum has turned negative. Hence, we can expect a price pullback. The OBV indicator has steeply risen. Therefore, buying activity is much higher than selling activity in the LTC market. Hence, we can expect the price to rise further. The RSI indicator is at 44%. It faced rejection at 47% and fell to the current level. Thus, selling pressures are high and we can expect a price pullback. LTC Technical Analysis As per technical analysis, the price has surpassed the first Fibonacci pivot resistance level of $274.65. As most of the indicators have shown bearish signals, we can expect the price to start declining and fall below the Fibonacci pivot point of $272.48. The price is soon likely to test and fall below 23.6% FIB retracement level of $279.19. If the price retests and breaks out of this level by day end, we can expect the price uptrend to continue tomorrow as well.
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