Litecoin price analysis: Bearish momentum suppresses price below $81.98 after return

Litecoin price analysis

TL;DR Breakdown

  • Litecoin price analysis is bearish today
  • The next resistance for LTC is present at $82.60
  • Support for LTC/USD is present at $79.88

Litecoin price analysis is going through a loss as the price underwent a decline up to $81.98 today. The downtrend has been quite constant since the beginning of this day and so far, it has failed to break out of it. The reversal in trends had been quite unexpected as the bulls were leading previously. Nonetheless, the bears have taken charge once again, and the price has been devalued. Cryptocurrency is down by 1.24 percent in the last 24 hours. The current market capitalization for Litecoin stands at around $5.840 billion and the 24-hour trading volume is around $573 billion.

LTC/USD 1-day price chart: Bearish swing deflates price levels to $81.98

The bearish momentum has been intensifying according to the one-day Litecoin price analysis. The price has been downgraded to $81.98 as a result of the constant downflow. The past few days have been quite encouraging for cryptocurrency as a strong bullish trend was going on. however, trends have been reversed today, and the price has been lowered significantly.

image 200
LTC/USD 1-day price chart. Source: TradingView

The volatility is increasing, which means that the downswing might last for the coming hours as well. If we discuss the Bollinger bands Indicator, then its upper value is at $82.34, and the lower one is at the $61.89 position. The Relative Strength Index (RSI) index has been lowered to 58.53 as well.

Litecoin price analysis on a 4-hour price chart: Bearish depression results in collapse below $81.98

The 4-hour Litecoin price analysis is showing signs of bearish momentum as the price decreased quite significantly. The price has been declining consistently as the cryptocurrency is showing a downward tendency. A reduction in price has been recorded in the last four hours as well as the price levels moved down to $81.98. Moving on, the moving average indicator is showing its value at $81.45 at the time of writing.

image 199
LTC/USD 4-hour price chart. Source: TradingView

The volatility has increased because of the bearish slope, and the Bollinger bands are expanding. The upper Bollinger band is standing at $84.64, the lower Bollinger band is at $73.87, and the overall average is being maintained at $81.98. The RSI index dropped drastically to 67.62 as well, quite near the undersold zone.

Litecoin price analysis conclusion

The one-day, as well as the four hours Litecoin price analysis, predicts that a downtrend has been following for the last 24 hours. The bears are leading the game at the moment, and the price levels have been brought down to $81.98 as a consequence. A Further downfall can be expected as the bears have been dominating for the past few hours as well. The price has been persistently moving down, which means that chances of improvement for the bulls are still on the limited side.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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