Ethereum
$ 1,208.78 1.93%
Solana
$ 38.93 3.65%
Dogecoin
$ 0.072969 4.24%
ApeCoin
$ 5.24 7.71%
Bitcoin
$ 20,907.00 1.75%
BNB
$ 234.36 1.55%

Litecoin price analysis: LTC/USD set to break the intraday highs of $162

Polkadot Price Analysis

TL;DR Breakdown

  • The daily Litecoin price chart is bearish.
  • The Bollinger bands are narrow on the daily Litecoin price analysis, implying a less volatile market.
  • The LTC/USD is trading at $160.

Litecoin price analysis: General price overview 

Today’s Litecoin price analysis chart started with bullish pressure. The buyers dominated the market for the first two trading hours, pushing the price of LTC/USD to an intraday high of $162. Bears came in and outnumbered the bulls and so caused price resistance. The price of Litecoin dropped in a descending triangle. After that, the coin traded in head and shoulder trend, recording the intraday low of $142.

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

Litecoin price analysis: LTC/USD set to break the intraday highs of $162 1

Source: Coin360

The top cryptocurrencies BTC and ETH, are trading negatively as the sellers dominate the whole crypto market, causing price dips. Bitcoin has dropped by -6.43 percent, while ETH is down by -6.21 percent in what appears to be a coordinated sell-off. Other altcoins are also performing similarly, with significant price variation. The meme coin has tumbled more than -15 percent, whereas Solan has dropped by -12 percent. Despite most digital assets being bearish, certain coins have recorded considerable price appreciation in the last 24 hours. In the wake of a large 16 percent price increase in less than an hour, OMG is the hottest gainer of the day, increasing its value by 17%.

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

Litecoin price analysis: LTC/USD set to break the intraday highs of $162 2

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.

The Balance of Power is lying on the positive side, meaning that the LTC/USD market is in the hands of the buyers. Bears are struggling to reverse the bullish trend. However, the buyers have outnumbered the sellers hence the bearish momentum.

Litecoin price analysis: Conclusion

The Bollinger Bands on the daily price analysis chart appear narrow; this implies a calm volatile market. The upper Bollinger band for the LINK/USD pair is approaching. This indicates that as the market moves closer to an overbought condition, the bull’s push grows more powerful. We expect that the value of cryptocurrencies will rise in the next 24 hours.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Related News

Hot Stories

Chainlink price analysis: LINK value drops to $6.5 after a bearish slide
Cryptopolitan to host Vidma in upcoming Web3 Masterminds session
Bitcoin price analysis: BTC retests $21,500, swift drop to $20,000 incoming?
Eminem promotes a BAYC video alongside Snoop Dogg
Ossification of Bitcoin

Follow Us

Industry News

Nexo reacts to new Emblezzlement allegations and threatens legal action
Bear market 2022 hits crypto to its worst in historic records
Anonymous plans to bring Do Kwon to justice
Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b