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.
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.
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.
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.
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.
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. 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 6, 2021 5:24 am
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