Litecoin hit the recent high at $63.38 on Thursday only to retreat to $62.80 by the time of writing. The 7th largest digital asset with the current market value of $4 billion has been moving in sync with the market; however, the recovery may be limited as the price failed to settle above $63.00. Litecoin’s daily trading volume is registered at $4.6 billion, while only 36% of Litecoin addresses are in the money at the current price. LTC/USD: Technical picture On the intraday charts, LTC/USD is locked in a tight range with the local resistance created by psychological $63.00 and the upper line of 1-hour Bollinger Band at $62.24 and the recent high of $63.38. If it is cleared, the upside may gain traction with the next focus on $64.00. On the downside, the first support comes at $62.30 ( the middle line of 1-hour Bollinger Band); however, a stronger barrier is seen on approach to $61.00 with several technical indicators clustered on approach to that level. They include SMA50 and SMA100 1-hour, the lower line of 1-hour Bollinger Band. LTC/USD 1-hour chart On the longer-term scale, LTC/USD bottomed at $56.50 on March 1 and has been gaining ground ever since. The coin retains positive bias as long as it stays above psychological support of $60.00. Once it is out of the way, the sell-off may be extended towards SMA200 daily at $58.50. Meanwhile, the critical resistance is created by SMA50 daily at $67.00, which coincides with the lower boundary of the previous channel. LTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/JPY Price Analysis: Extra downside expected to test 118.30 FX Street 3 years Litecoin hit the recent high at $63.38 on Thursday only to retreat to $62.80 by the time of writing. The 7th largest digital asset with the current market value of $4 billion has been moving in sync with the market; however, the recovery may be limited as the price failed to settle above $63.00. Litecoin's daily trading volume is registered at $4.6 billion, while only 36% of Litecoin addresses are in the money at the current price. LTC/USD: Technical picture On the intraday charts, LTC/USD is locked in a tight range with the local resistance created by psychological $63.00 and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.