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Litecoin price analysis: Bearish swing deflates LTC price levels to $154

TL;DR Breakdown

  • Price dropped down to the $154 level.
  • Litecoin price analysis report is bearish for today.
  • Support is for LTC is present at $144.

The Litecoin price analysis is bearish for the fourth day consecutively. The coin is going through a loss as the price underwent a decline up to $154 today. The downtrend has been quite constant for the past four days, and today’s price function is also headed downwards. The trend was already downwards, but this sharp descend had been quite unexpected. Nonetheless, the bears are leading once again, and the LTC price has been devalued again.

LTC/USD 1-day price chart: Price declines to $154

The 1-day price chart for Litecoin price analysis shows the bearish momentum has been intensifying. The price has been downgraded to $154.28 as a result. The past few days have been quite discouraging for the cryptocurrency market as a whole and for LTC as well, as a strong bearish trend has been going on. A similar trend has been reported during the last 24-hours as well. The price has gone below the lower limit of the Bollinger bands as well, which is present at $159 now turned into a resistance that previously was representing support.

LTC/USD 1-day price chart. Source: TradingView

The volatility is high for LTC, with the Bollinger bands Indicator upper value settling at $244 and the lower value is at the $159 mark. The Relative Strength Index (RSI) has lowered down to the border of the oversold region as it trades at index 31, still on a downslope, indicating the selling activity in the market.

Litecoin price analysis: Recent developments and further technical indications

The 4-hours price chart for Litecoin price analysis is showing signs of bearish momentum as the price decreased quite significantly during the last four hours. The price function is again covering the downwards range as during the last four hours, the price levels moved down to $154. The moving average (MA) is trading at the $158 mark above the price level.

LTC/USD 4-hours price chart. Source: TradingView

The volatility is high, and the Bollinger bands show a downwards breakout. The upper Bollinger band is present at the $213 mark, and the lower Bollinger band is at the $131 mark; the upper and lower limits represent the vast prevailing volatility for LTC. The average of the indicator is present at the $172 mark. The RSI on the 4-hour chart is also on a slight downslope as it hovers above the borderline of the oversold zone at index 31.

The technical indicators for Litecoin are also favoring the bearish side, with 14 indicators giving sell signs and only three indicators showing buy signs, while the remaining nine technical indicators stand neutral and do not show any sign for buying or selling of LTC.

Litecoin price analysis conclusion

The Litecoin price analysis shows a continuation of the downtrend that still continues after the recent market crash. However, the RSI curves for LTC show some hope, despite being on the downslope, the RSI curve has almost flattened out, which hints at a decreasing selling pressure, and some improvement in price may be observed during the coming hours.

Disclaimer. The information provided is not trading advice. 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 6, 2021 5:24 am

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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