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Litecoin Price Analysis: LTC/USD is bearish for the next 24 hours

Terra Price Analysis

TL;DR Breakdown

  • Litecoin price analysis is bearish today.
  • Resistance for LTC is present at $162.
  • Support is present at $152.

Today’s LTC price change has resulted in a price decrease, which is why the market is now following a bearish trend. The cryptocurrency is trading inside a downward range as the bears could keep the price from rising above $158. After the bulls raised prices yesterday, the bears seem to be fighting back today – pushing the price downwards. The resistance for Litecoin can be seen at $162. The support for Litecoin is present at $152, and after testing this too many times, we may see it hold up again.

The Bollinger band is narrow right now, showing us that the market is unsure of itself. After a few days, we might see it adjust and allow for more volatility in price.

After having dropped below the Fibonacci retracement levels, Litecoin may have found its new floor at around $152-$153 – This, too, however, will most likely need to show strength before a break above happens again.

LTC/USD 1-day price chart: bear continue to degrade the price level

The price is declining again as a bearish trend has been confirmed from the 1-day Litecoin price analysis. Yesterday, the price rose rapidly, with an upward trend taking hold of the market. However, today’s LTC/USD value has decreased significantly to $156, covering the downrange. The value is trading beneath the moving average indicator (MA) at $158.

LTC/USD four hour price analysis: Recent developments and further technical indications

The 4-hour Litecoin price analysis corroborates the bearish trend, with the value declining further today. Even though a downtrend has been in place for weeks, the bears have continued to put in efforts to hold their advantage. Today, the bears have increased the cryptocurrency’s value even more as the price fell to $156, now on a continuing downward path. On the other side, however, the LTC/USD pair continues to trade above the moving average (MA) value at $154 for now, with a bearish crossover if the price falls below the MA.

Litecoin Price Analysis: LTC/USD is bearish for the next 24 hours 1
LTC/USD 4-hours price chart. Source: Trading view

The volatility has decreased as the price fluctuations have been minor on an hourly basis. The upper value of the Bollinger bands is $161, while the lower value is $148, and the indicator’s average is $154, which indicates support for LTC. Once again, because the index value has fallen to index 48, it is a good time to buy for short-term profits.

The Litecoin price has been declining throughout the day, with the market following a bearish trend. The cryptocurrency is currently trading inside a downward range, with resistance at $162 and support at $152. Today’s LTC price change has resulted in a price decrease, which is why the market is now following a bearish trend.

Litecoin Price Analysis: Conclusion

In today’s Litecoin price analysis, the coin appears to be continuing its downward trend after declining since November 15th. The RSI score is low, implying that the market is bearish. We anticipate LTC to continue to fall today, but it may sustain the price level at or above the $150 psychological barrier.

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.

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