Litecoin price expected break support at $69.613

Litecoin price sees a gradual decline towards the $69.00 mark on the price chart for February 02, the cryptocurrency had peaked below the $73.00 mark. As per an idea, if a support level at $69.613 tends to break, the cryptocurrency may head downwards three levels at which the next supports lie;  $66.728, $64.209 and $61.945.

1-Day Litecoin Price Analysis (February 03)

Litecoin Price Chart

Litecoin Price Chart by TradingView

Litecoin stood at the $69.50 mark just as the day started. The cryptocurrency’s price trend was instantly converted into a bullish trend, from its preceding bearish fall just as the price line stepped into February 02. The bulls took the price to a day’s high of $72.97 US Dollars, after which the price came crashing down to the $70.50 mark. After 02:00 GMT, the cryptocurrency sees a dishevelled price pattern for the rest of the day. The price pattern features a downward trend until the end of the day.

As its closing value, Litecoin stands at $69.49 US Dollars.

Technical Indicators for Litecoin

Litecoin Featured Price Chart

Litecoin Featured Price Chart by TradingView

The Relative Strength Index (RSI) for Litecoin on February 02 saw an upward slip across level 70.00. At 00:38 GMT. Once it reached, 87.10 the cryptocurrency retreat below level 70. The 20-Day Exponential Moving Average (EMA) trades at $69.63, while the 50-Day Moving Average (MA) closed at $67.51.

Featured Image by bharath g s.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.