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Litecoin price analysis: LTC falls below $220, as trading volume goes down by five percent

Litecoin price analysis LTC falls below as trading volume goes down by five percent

TL;DR Breakdown

  • Litecoin price analysis is bearish today.
  • Support for LTC is present at $212.
  • Resistance is found at $219.

The latest Litecoin price analysis shows a decrease in price as the coin is covering the downwards range today. LTC/USD got rejected at $226 on 21st November following two days of bullish momentum. However, today bulls did not succeed in taking the lead as bears continue their endeavor and degrade the price further down.

Overall the last week proved detrimental for the crypto pair as, since 15th November, the coin has lost around $63 in price value, which is a big chunk of sum for a total value of $216 price.

LTC/USD 1-day price chart: LTC loses five percent

The 1-day price chart for Litecoin price analysis shows that the coin has covered a downwards range today as it traded between $210 to $222 today, and the LTC is trading exactly at $216.4 at the time of writing. The LTC/USD crypto pair reports a loss in value amounting to nearly four percent over the last 24 hours and shows a loss of a little more than 21 percent over the past week. The trading volume also decreased by 4.9 percent, and the market cap has also decreased by 4.02 percent.

Litecoin price analysis: LTC falls below $220, as trading volume goes down by five percent 1
LTC/USD 1-day price chart. Source: TradingView

The volatility is high for LTC as the Bollinger bands are covering a larger area on the daily charts, with the upper band at $281 and the lower band at $180 representing support for Litecoin, and the mean average of the indicator is at $231 mark which represents resistance level for LTC/USD.

The relative strength index (RSI) is on a downwards slope, trading at index 48. The downtrend of RSI indicates selling activity in the market, as selling pressure is high.

Litecoin price analysis: Recent developments and further technical indications

The 4-hour Litecoin price analysis shows that the price breakout was downwards today, and the price function continued downside for the first eight hours, but finally, when the price reached $214, bullish help started to arise, as the last candlestick on the 4-hour chart is green indicating bullish activity.

Litecoin price analysis: LTC falls below $220, as trading volume goes down by five percent 2
LTC/USD 4-hours price chart. Source: TradingView

The volatility is mild on the hourly chart, and the Bollinger bands ends are converging slowly, the upper band is present at the $230 mark now, and the lower band is present at the $208 mark representing support for the coin. The mean average is found at the $219 mark, which now represents resistance for LTC. The RSI shows a humble upwards curve now as it has been lifted to index 43 with the help of the buying that started recently in the market.

Litecoin price analysis conclusion

The Litecoin price analysis concludes the crypto pair is in a bearish slide, as a considerable decrease in price has been observed today as well. The coin still seems to be not recovering after it crashed on 15th November, as the price trend line is now downwards. The 4-hour chart shows some hope as the bullish help has emerged, but even if the bullish efforts continue, the coin still has to face selling pressure at the $219 level.

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.
Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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