Litecoin price started a steady decline from the 5 resistance zone against the US Dollar.LTC price even declined below the 0.00 level and spiked below the 55 simple moving average (4-hours).There is a major declining channel forming with resistance near 8.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).The pair is likely to find a strong buying interest near the .40 and .00 levels.Litecoin price is slowly moving lower from well above 0.00 against the US Dollar, similar to bitcoin. LTC price could continue lower towards the main .40 and .00 support levels.Litecoin Price AnalysisThis week, there were swing moves in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC price struggled to stay above the 0.00 level and
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- Litecoin price started a steady decline from the $125 resistance zone against the US Dollar.
- LTC price even declined below the $100.00 level and spiked below the 55 simple moving average (4-hours).
- There is a major declining channel forming with resistance near $108.00 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair is likely to find a strong buying interest near the $92.40 and $90.00 levels.
Litecoin price is slowly moving lower from well above $110.00 against the US Dollar, similar to bitcoin. LTC price could continue lower towards the main $92.40 and $90.00 support levels.
Litecoin Price Analysis
This week, there were swing moves in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC price struggled to stay above the $120.00 level and started a steady decline.
There was a break below the $110.00 support level. The price even spiked below the $100.00 support level and the 55 simple moving average (4-hours). There was also a break below the 50% Fib retracement level of the key upward move from the $78.48 swing low to $124.25 high.
The price found support near the $95.00 level. The 61.8% Fib retracement level of the key upward move from the $78.48 swing low to $124.25 high also acted as a support.
It seems like there is a major declining channel forming with resistance near $108.00 on the 4-hours chart of the LTC/USD pair. In the short-term, there could be a fresh increase above $105.00. However, the price might struggle to clear the $108.00 and $110.00 levels.
If the bulls succeed, litecoin price might start a fresh increase towards the $115.00 and $120.00 levels. The next major resistance on the upside sits near the $125.00 zone.
Conversely, the price could continue to move lower below the $100.00 and $98.00 levels. The next major support is near the $92.40 level. The main breakdown support is likely forming near the $90.00 level.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly moving lower with a bearish angle below $105.00 and $108.00. Overall, the price is likely to find a strong buying interest near the $92.40 and $90.00 levels 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 now moving towards the 40 level.
Key Support Levels – $92.40 and $90.00.
Key Resistance Levels – $108.00 and $115.00.