Litecoin price is currently trading in a bearish zone below the .00 and .00 levels against the US Dollar.LTC price is facing a major hurdle near .00 and the 55 simple moving average (4-hours).There is a key bearish trend line forming with resistance near .00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair must break the .00 and .00 resistance levels to move into a positive zone.Litecoin price is currently following a bearish path against the US Dollar, similar to bitcoin. LTC price could continue to move down as long as it is below .00.Litecoin Price AnalysisIn the past few sessions, there was a steady decline in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price failed to hold the .00 and .00 support levels and
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- Litecoin price is currently trading in a bearish zone below the $64.00 and $60.00 levels against the US Dollar.
- LTC price is facing a major hurdle near $60.00 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $60.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair must break the $60.00 and $61.00 resistance levels to move into a positive zone.
Litecoin price is currently following a bearish path against the US Dollar, similar to bitcoin. LTC price could continue to move down as long as it is below $60.00.
Litecoin Price Analysis
In the past few sessions, there was a steady decline in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price failed to hold the $64.00 and $60.00 support levels and it moved into a bearish zone.
The decline was such that the price even traded below $58.00 and settled below the 55 simple moving average (4-hours). It tested the $56.00 support area, where the bulls took a stand. A low is formed near $56.61 and the price is currently consolidating losses.
It is trading near the 23.6% Fib retracement level of the recent decline from the $62.95 high to $56.61 low. On the upside, the price is facing a major hurdle near $60.00 and the 55 simple moving average (4-hours).
There is also a key bearish trend line forming with resistance near $60.00 on the 4-hours chart of the LTC/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $62.95 high to $56.61 low.
Therefore, the price must clear the $60.00 resistance zone and the 55 simple moving average (4-hours) to start a decent increase in the near term. The next major resistance on the upside is near the $63.80 and $64.00 levels.
Conversely, the price might continue to move down below $57.00 and $56.00. If there is a clear break below $55.00, the price is likely to test the $52.50 support level.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly trading in a bearish zone below the $60.00 level. Overall, the price must break the $60.00 and $61.00 resistance levels to move into a positive zone in the near term.
Technical indicators
4 hours MACD – The MACD for LTC/USD is currently losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently close to the 40 level.
Key Support Levels – $56.00 and $55.00.
Key Resistance Levels – $60.00 and $61.00.