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Litecoin price analysis: LTC/USD bearish for the next 24 hours

Litecoin price analysis

TL;DR Breakdown

  • Litecoin price analysis suggests upwards movement to $140
  • The closest support level lies at $120
  • LTC found resistance at $150.

Litecoin price analysis reveals that the asset’s price movement was rejected at $144.00 and subsequently fell to $120.00 support. Whether or not the buyers have regrouped around $128.0, selling pressure at $130 continues to haunt LTC price action.

The Litecoin price analysis implies that the asset’s price movement was rejected at $144.00 and has since fallen back to the $120.0 support area. Whether or not the buyers have regrouped around $128.0, selling pressure at $130 continues to haunt LTC price action.

LTC faces resistance at the $128 mark, corresponding to the 38.2% Fibonacci Retracement level of this asset’s previous wave from $108.50 – $144.80. Finally, it is worth noting that Litecoin’s price analysis points at a short-term bearish

Litecoin price movement in the last 24 hours: Bullish signals?

Litecoin price analysis: LTC/USD bearish for the next 24 hours 1
1-day price chart by Tradingview

The closest support level lies at $120, which supports the asset’s price movement. Consequently, the asset will likely stop its downward trend once it reaches the $120 mark. Otherwise, further losses are expected to take the Litecoin price analysis to $110.00 and below.

On the other hand, LTC faces resistance at the $128 mark, which corresponds to the 38.2% Fibonacci Retracement level of this asset’s previous wave from $108.50 – $144.80. Finally, it is worth noting that Litecoin price analysis points at a short-term bearish trend.

LTC/USD 4-hour price analysis chart: Recent price developments

The hourly chart of Litecoin is a bullish one. With that being said, recently, the LTC/USD pair has been consolidating at $125 in a range-bound movement. As can be seen in the above image, price action ranges between $122.00 and $128.00, with the support being at $120.00 and the resistance being at $128.00.

Litecoin price analysis: LTC/USD bearish for the next 24 hours 2
4-hour price chart by Tradingview

The RSI of Litecoin is now at 57, which suggests that the asset’s price movement will reach levels between $130.00 and $128.00 in the upcoming hours. Also, the MACD of Litecoin is slowly but steadily gaining momentum below its zero boundaries; therefore, an upwards price movement to $130 might be expected soon. The RSI of Litecoin is now at 57, which suggests that the asset’s price movement will reach levels between $130.00 and $128.00 in the upcoming hours. Also, the MACD of Litecoin is slowly but steadily gaining momentum below its zero boundaries; therefore, an upwards price movement to $130 might be expected soon.

Litecoin price analysis: Conclusion

LTC/USD pair is performing a short-term bearish trend. Nevertheless, it is likely for this asset’s price to reach $120.00 and re-bounce from there, as this level provides support for the asset’s price movement.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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