- Litecoin price analysis shows the bearish curve has still not changed.
- Support of $172 is still valid in the short-term.
- Resistance found $184 yet to be attempted.
The Litecoin price analysis for today shows LTC is on recovery for good. The bulls are attempting to take the price higher, and currently, the LTC/USD pair is trading at $175 at the time of writing. After yesterday’s bearish plunge, the bulls are trying to break the pattern and continue their course.
Litecoin is among the big losers of altcoins if we look at the course of the last seven days, as LTC lost 17 percent value over the past week following the decline in bitcoin’s value. The market is showing positive sentiment for LTC, while many altcoins are showing losses; LTC/USD pair is moving higher but in small increments.
LTC/USD 1-day price chart: LTC bulls on the move
The 1-day Litecoin price analysis shows a slight price improvement today. Bulls are successfully carrying out their lead towards the resistance mark of $184 as support of $172 seems solid. The price is moving in a positive direction.
The volatility is still higher and is slowly increasing than yesterday’s level as the lower Bollinger band gently moves down the slope and is at the mark of $148, indicating an increase in the volatility. The upper band is at $221 and still moving straight.
The moving average is above the price level at $196, and the Bollinger band average is at $185. Both the technical averages are above the price level showing an empowered bearish sphere, where bulls struggle to pilot the price movement.
The relative strength index (RSI) is hovering near the centerline, still in the bearish territory at a score of 47. The center position of RSI is almost neutral, showing equal space for both upward and downward price movement as per Litecoin price analysis.
LTC/USD 4-hours analysis: Bulls defining the intraday trend
The 4-hours Litecoin price analysis shows bulls carrying the lead as green candlesticks appear for them from the morning. The price movement is small but continuous. Yesterday’s resistance of the $176 may be met soon. If LTC crosses this first resistance, then the next target will be the actual resistance of $184, which does not seem like easy attainment.
As we can see in the chart, the volatility increases as Bollinger bands widen after yesterday’s shallow curve. The upper band is at the $187 mark, and the lower band is at the $172 mark. The moving average (MA) is $178, and the Bollinger bands average is $179.
Both the averages indicate a bearish sign as both are above the price level. The RSI is also below the centerline in the bear zone at a score of 37. The low RSI indication is providing a big envelope for buyers to come in.
The technical indicators for Litecoin price analysis are primarily neutral with slight bearish dominance. Most of the critical indicators are either neutral or on the selling side. Out of total 26 indicators, 10 are on the selling side and eight each on buying and neutral signs.
The most of the moving averages give a sell sign with eight indicators towards the selling side and six on the buying side, and only one is neutral. The oscillators are perfectly neutral today, with seven indicators at neutral and two on each selling and buying point.
Litecoin price analysis: Conclusion what can happen next
The 1-day and 4-hours Litecoin price analysis is showing a bullish trend at the moment in a bearish environment. As most of the recent technical indicators, such as simple moving averages of SMA10, SMA20, and exponential moving averages EMA10 and 20 and MACd are all on the selling side.
This shows still a selling pressure can instigate at any time. If the market pressure hits the road, then the price can come as low as $165, and if bulls dodge their way out, we can see LTC aiming for $184.
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