Litecoin price analysis: Bearish string pulls price levels down to the $185 edge

Litecoin price analysis Bearish string pulls price levels down to the edge

TL;DR Breakdown

  • Price dropped down to $184.93 level.
  • Litecoin price analysis supports the bears.
  • Support is still stable at $169.23.

The Litecoin price analysis shows the price is headed down once again as a downward movement has been recorded today. The bearish momentum has impacted the cryptocurrency value quite adversely as a record decrease in price has been observed. The bearish wave has taken the LTC/USD value down to the $185 limit, which has created quite favorable circumstances for the bears. So, overall the cryptocurrency has been following a decreasing trend.

LTC/USD 1-day price chart: Price abruptly steps down to $184.93 after unwavering success

The one-day Litecoin price analysis is showing unexpected results for the buyers today, as a downward movement has been recorded. The bearish momentum has been huge as the price has moved down to the $184.93 level in the last 24 hours. The price had been quite stable in the past few weeks but now it is traveling low. The moving average indicator, on the other, is showing a value of $194.3.

Litecoin price analysis: Bearish string pulls price levels down to the $185 edge 1
LTC/USD 1-day price chart. Source: TradingView

The red candlestick in today’s price chart is signaling a loss for cryptocurrency at present. The Bollinger band values have changed during the day as well and now the upper band is showing a $204.30 value and the lower band is showing a $169.23. The Relative Strength Index (RSI) curve has descended down to 50.30 because of the bearish trend.

Litecoin price analysis: Bulls breakthrough bearish spell to bring price above $185

The four hours Litecoin price analysis is predicting an upward trend as the price has undergone improvement in the past few hours. Although the cryptocurrency has been facing a strict decline from the overall perspective, the price has turned towards the bullish side in the last four hours. Now the price is hitting the $185.01 mark, which is still quite far from the moving average value at $193.05.

Litecoin price analysis: Bearish string pulls price levels down to the $185 edge 2
LTC/USD 4-hours price chart. Source: TradingView

The volatility has been on the increasing side which is why the Bollinger bands average has changed to $193.24. Meanwhile, the upper Bollinger band is now standing at the $201.45 position and the lower Bollinger band is at the $185.04 position. The RSI score is 38.42, still standing in the danger zone.

Litecoin price analysis: Bearish string pulls price levels down to the $185 edge 3
LTC/USD technical indicators chart. Source: TradingView

The overall indication for the cryptocurrency is on the neutral side because of the constant fluctuations in price movements. There are 10 indicators that are standing on the neutral position, nine indicators are on the selling position, and seven indicators on buying position.

The moving averages indicator is predicting a neutral trend for LTC/USD as well. There are seven indicators on each of the selling and buying positions, leaving only one indicator on the neutral side. The Oscillators, on the other hand, are supporting the bears and there are nine indicators at a neutral level, two indicators at the selling level, and zero indicators at buying level.

Litecoin price analysis conclusion

The cryptocurrency value has been downgraded to $184.83 level according to the one-day and four hours Litecoin price analysis. Although the price had been traveling in a stable manner during the earlier weeks, it is now in a dangerous position. The decline in price has been against the expectations of the buyers, as further stability in price trends was anticipated. Even though the price recovered slightly in the last four hours, the overall trend has been towards the bearish side.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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