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Litecoin price analysis: LTC/USD prices slip below $52.55 as market conditions turn bearish

Litecoin price analysis
TL;DR Breakdown
  • Litecoin price analysis shows a bearish market trend
  • LTC prices have sought support at $51.77
  • Resistance for LTC/USD is present at $54.32

Litecoin price analysis shows that the market has turned bearish with prices slipping below $52.55. Prices have found support at $51.77 and any further decline may see LTC prices testing the $50 handle in the short term. Resistance for the pair is present at $54.32 and any further upside may see LTC prices testing the $55 handle in the short term. Litecoin price analysis shows that the market has turned bearish after a brief period of sideways trading. However, the bulls are expected to make a comeback soon and push prices higher.

The digital asset market has seen a lot of volatility in recent times with prices declining sharply. However, the market seems to have found some stability around the $52.5 region and is currently trading sideways. Litecoin and other major cryptocurrencies have seen a sharp decline in prices over the past few days. The LTC price was trading at around $54.5 on May 19 and has since declined to $52.55 at press time, a decline of over 3%. Trading volume for the digital asset has also declined significantly over the past few days and is currently at $760,320,145, while the market cap stands at $3,707,543,072.

LTC/USD 1-day price chart: Bears are adamant as they push prices below $52.55

The 1-day Litecoin price chart shows a bearish trend as the market conditions have turned bearish. The prices have been trading between a range of $51.77 to $54.32 in the last 24 hours. The next few days are critical for the Litecoin market as the prices may see a further decline if the bears remain in control. Litecoin price analysis shows that the market may see some volatile price action in the next few days as the bulls and the bears battle for control of the market.

image 305
LTC/USD 24-hour price chart, Source: TradingView

The technical indicator for the LTC/USD pair is bearish as the MACD line has crossed below the signal line. The RSI indicator is currently at 48.27 and is slowly moving towards the oversold region. The EMA 50 is currently at $53.01 and the EMA 200 is at $55.19. The Litecoin market is expected to remain bearish in the short term as the market conditions are not conducive to a bullish breakout.

LTC/USD price action on a 4-hour price chart: Bulls emerge as prices rebound from $52.55 to the $53 level

The 4-hour Litecoin price analysis shows bullish signs as prices have rebounded from the $52.55 level to the $53 level. The bulls emerged after the prices found support at the $51.77 level. The Litecoin market is expected to see some volatile price action in the next few days as the market conditions are not conducive to a sustained rally. The buyers need to push prices above the $53 level to take control of the market.

image 306
LTC/USD 4-hour price chart, Source: TradingView

The RSI indicator is currently moving above the 50 levels, indicating that the bulls are in control of the market. The MACD line is currently above the signal line, indicating a bullish trend. The EMA 50 is currently at $52.30 and the EMA 200 is at $54.42. which is a bullish sign.

Litecoin price analysis conclusion

Litecoin price analysis conclusion, the market is bearish in the 24-hour. However, the bulls that emerged on the 4-hour price chart and the price are expected to make a comeback soon and push prices higher. Litecoin price analysis shows that the market has turned bearish with prices slipping below $52.55. Prices have found support at $51.77 and any further increase is expected.

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.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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