Litecoin price analysis: LTC/USD moves towards bearish dynamics at $54.15

Litecoin price analysis today is bearish as the cryptocurrency has slipped below $60 again. The LTC/USD pair had been following an ascending parallel channel for some time but failed to break out of it and instead dropped sharply.

Timeline of Litecoin

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Litecoin [LTC] has not seen a large amount of volatility in recent weeks, relative to the rest of the altcoin market.

A bullish reversal from the support trendline triggers a new bull cycle within a rising parallel channel pattern. With the past four days' recovery, the LTC price has breached the $58.5 resistance offering a better confirmation for the potential bull run.

Litecoin [LTC], which is often regarded as an underdog, displayed a commendable performance last week as compared to other market players.  Interestingly, Litecoin was featured in the ‘Top 5 Altcoin' list published by the Evening Standard, which definitely adds more value to the blockchain.

Litecoin price analysis reveals that the LTC/USD price is currently in a bullish trend as it rallies to break out at the $59.25 level. However, the cryptocurrency is facing rejection at $59.31 as the bulls seem to be losing momentum.

Litecoin (LTC) has struggled against Tether (USDT) as bulls continue to push the price above the key support region, forming a bullish chart pattern. Bitcoin's (BTC) price has shown less steam compared to recent times; this has affected most crypto assets, including the price of Litecoin (LTC).

Recent Litecoin price analysis shows a bullish trend in the market as the price of Litecoin surged to $55.22. The coin is presently trading at this price after correcting from the intraday high of $56.57.

In this episode of NewsBTC's all-new daily technical analysis videos, we are looking at Litecoin, the LTCBTC and LTCETH trading pairs, and how the cryptocurrency could lead the crypto rally and outperform both Bitcoin and Ethereum. Take a look at the video below.

Litecoin price analysis shows the LTC prices are currently showing some bullish momentum building up again after a brief period of consolidation in the $52-55 region. The prices have found some support near the $52 level and are currently trading around the $55.72mark.

A morning star candle formation at the $52.2 support indicates the buyers are attempting price recovery. However, no significant jump in volume activity yet means a better confirmation is needed.

Litecoin price analysis shows that the coin has had a bullish start to the day after a brief spell of consolidation yesterday. The cryptocurrency is now trading at $56.65, which is just below the intraday high of $57.46.The LTC/USD pair is up by 0.