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Litecoin Price Analysis: LTC pulled from $176 to $165 major resistance

Litecoin price

TL; DR Breakdown

  • The daily Litecoin price chart is bearish
  • The Bollinger bands are narrow on the daily Litecoin price analysis
  • The LTC/USD pair price has reached $174 at the time of writing.

Litecoin price analysis: General price overview 

The daily Litecoin price chart started with the sellers in charge. Bulls built a firm base at the low end of the day’s trading, $170, five minutes later. As a result, prices climbed and formed head and shoulder patterns to the intraday highs of $185, which sellers had established.

A major barrier was erected by the sellers, making it difficult for the bulls to overcome. As a result, strong seller resistance allowed the bears to dominate the LTC/USD market, resulting in severe drops.

At the time of writing, the LTC/USD exchange rate was $174. LTC fell steadily for the rest of the day, although overall value increased yesterday owing to all of the preceding sessions’ bullish activity. Still, throughout the day, bears held sway over the LTC market unchecked until the end.

LTC/USD is in a total bear market, with values falling by 16%. This should be good news for traders who have yet to invest in cryptocurrencies. If you’re willing to put your fiat into the cryptocurrency market, now is a good time to do so. Not everyone can afford to invest in the crypto market, but if you’re

LTC/USD 4-hours analysis: LTC to retest resistance of $170

Litecoin Price Analysis: LTC pulled from $176 to $165 major resistance 1
Source: Tradingview

The Bollinger bands are narrow on the daily price chart, suggesting a modest volatile market. The LTC/USD pair is leaning toward the upper Bollinger band, indicating that bulls have the upper hand in the market.

Litecoin price analysis: Conclusion

On the daily price analysis chart, the Bollinger bands appear narrow; this suggests a tranquil volatile market. The upper Bollinger band is nearing for the LINK/USD pair. This indicates that as the market approaches an overbought condition, the bull’s push grows stronger. In the next 24 hours, we believe that the crypto’s value will increase.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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