The Litecoin price analysis reveals that the price is declining as a price drop has been detected today. The cryptocurrency’s value has been damaged by a fall in price, as indicated by the bearish strike. LTC/USD dropped below $205.6 as bears were able to breach through the recent bullish momentum, bringing overall prices down for today.
The MACD line is below the signal line, and the histogram is negative and decreasing. This indicates that the sellers are currently in control of the market. RSI has also fallen below 50, which confirms a strong selling pressure.
The one-day Litecoin price analysis reports odd findings for the cryptocurrency right now, as a noted decline in value. As the price moved down to $205.6 in the last 24 hours, the bearish strike significantly influenced. The price behavior was quite stable during the previous seven days, with an increasing trend observed. Litecoin was able to break the $198.5 support and is currently hovering at that value.
The MACD line is below the signal line, and the histogram is negative and decreasing. This indicates that the sellers are currently in control of the market. RSI has also fallen below 50, which confirms a strong selling pressure. The 100 EMA line has started to descend, which means the bears are taking over.
Litecoin price analysis: Key levels to watch
The Litecoin price analysis currently reports that the cryptocurrency’s value is below $200. The support area at $198.5 has been breached, but it still supports the price well when the bulls take control of the market.
The support level for LTC/USD is positioned at $198.5, but it remains to be seen whether it will hold or not. A break below this support could further price decline towards $181. However, if buyers manage to take over and push prices back above $205.6, the current downtrend could reverse, and we could see a resumption of the uptrend.
In short, the Litecoin price analysis today suggests that bears are in control of the market, and a fall in price has been detected today. Therefore, the current bearish momentum could continue to impact prices until buyers manage to take control of the market and push prices back up.
On the downside, if LTC/USD drops below the support level of $198, further declines are on their way. We could see price testing support lower at around $181 in future trade sessions due to the strong bearish momentum that remains dominant in the market right now, even after breaching through previous support yesterday. If buyers fail to take over and push prices back up, we could see LTC/USD dropping even further towards $155.
The Litecoin price has been up by nearly 6 percent in the past day, and it appears to be on track to hit $350 within a few days. According to four hours of Litecoin price analysis, the upward trend will resume as soon as now, with prices beginning to climb again in the previous several hours. Although the LTC/USD has not yet hit $350, it is only a matter of time before this bullish pressure pushes the rate even higher.
LTC/USD 4-hours price chart. Source: TradingView
The technical indicators for this Litecoin price analysis show us that the bearish momentum remains dominant in the market after breaching through support at $210 yesterday, so it is possible to see further declines pushing prices lower today.
On the four-hour timeframe, we can see that the price is trading below the 4 hour SMA, which is situated at $205.6 at the moment. However, if the bulls successfully break through this level in a bullish wave then they will meet immediate resistance above them at $209.2 followed by more resistance higher up at $213 and $218 respectively which, will require further confirmation before they are breached successfully in the future trade sessions to indicate more buying pressure.
Following a succession of bearish momentum, the Litecoin price appears to be gaining steam again as the price has been rising during the previous few hours. We expect a few more hours of recovery before facing resistance at the $207 mark once again.
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.
This post was last modified on December 3, 2021 10:59 am
TL;DR Breakdown Bitcoin price analysis is bullish today.BTC/USD peaked at $36,000 yesterday.Lower low set at… Read More
TL;DR Breakdown The Terra price analysis is bearish today.Resistance for LUNA is present at $69.Support… Read More
TL;DR Breakdown Ethereum price analysis is bearish today.ETH/USD peaked below $2,550 yesterday.Previous support at $2,300… Read More
TL;DR Breakdown MKR/USD value is standing at $1701.4.Maker price analysis predicts downtrend.Support has gone below… Read More
TL;DR Breakdown The Solana price analysis is bearish.Bears have taken the price levels down to… Read More
Jersey, United Kingdom, 24th January, 2022, ChainwireOKO Miners is one of the largest cryptocurrency mining… Read More