The market opened mixed today, with some coins rising while others trade in the red.
The cryptocurrency market started the day with mixed momentum: Bitcoin is trading higher while several altcoins show losses. BTC is currently up about 3.5% and is attempting to break the $50,000 resistance level. Its weekly gain is approaching 20% following yesterday’s rally.
Ether has also moved up, rising just under 1% and trading near $3,400. Binance Coin (BNB) has overtaken Cardano (ADA) to become the third-largest cryptocurrency by market capitalization after gaining nearly 30% over the past week, compared with ADA’s 4% rise.
Some altcoins such as Solana (SOL), Terra (LUNA), Uniswap (UNI) and Avalanche (AVAX) are currently in the red. Litecoin, however, has risen slightly—under 1%—and may seek to extend gains in the coming hours.
Litecoin Price Outlook
The 4-hour chart for LTC/USD looks bullish following Litecoin’s strong recent performance. LTC has climbed more than 15% over the last seven days and could record further gains in the near term. The MACD line sits in bullish territory, while the RSI near 53 signals a neutral-to-positive momentum.
After testing the $167 level, Litecoin could aim for the first notable resistance at $172 in the coming hours. Broad market support would be needed to push LTC past the second resistance level around $176. Unless the rally gathers additional momentum, resistance near $180 may cap short-term upside.
4-hour LTC/USD chart. Source: TradingView
On the downside, if Litecoin falls back below the pivot at $167, the first key support level to watch would be $162. A more extended sell-off could see LTC test the second major support near $157 before the day ends. Nevertheless, LTC should remain comfortably above $150 in the short term unless market conditions worsen significantly.