Wednesday , December 1 2021
Home / Altcoins / Litecoin (LTC) Price Analysis: $180 Presents Key Resistance

Litecoin (LTC) Price Analysis: $180 Presents Key Resistance

Summary:
Litecoin price failed to clear the 0-2 resistance zone against the US Dollar. LTC price is now trading below 0 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near 2 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair must stay above the 2 support to avoid more downsides in the near term. Litecoin price is correcting gains from 2 against the US Dollar, similar to bitcoin. LTC price could continue lower if it fails to stay above the 2 support zone. Litecoin Price Analysis This week, there was a downside correction in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC extended its increase above the 0 level. The price surpassed the 5

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Nick Marinoff writes Could Jerome Powell Affect the Crypto Market? Analysts Weigh In

Nick Marinoff writes Jane Hume: Crypto Is NOT Going to Disappear

Nick Marinoff writes Moon Pay Is One of the Newest – and Biggest – Crypto Firms Today

Aayush Jindal writes Cardano (ADA) Price Analysis: Risk of Fresh Decline Below .5

  • Litecoin price failed to clear the $190-$192 resistance zone against the US Dollar.
  • LTC price is now trading below $180 and the 55 simple moving average (4-hours).
  • There was a break below a major bullish trend line with support near $182 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair must stay above the $162 support to avoid more downsides in the near term.

Litecoin price is correcting gains from $192 against the US Dollar, similar to bitcoin. LTC price could continue lower if it fails to stay above the $162 support zone.

Litecoin Price Analysis

This week, there was a downside correction in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC extended its increase above the $180 level.

The price surpassed the $185 resistance level and the 55 simple moving average (4-hours). It even cleared the $192 resistance level. However, the price failed to clear the $192 resistance zone. A high was formed near $192 and recently there was a downside correction.

The price traded below the $185 and $180 support levels. There was also a break below a major bullish trend line with support near $182 on the 4-hours chart of the LTC/USD pair. A low was formed near $170 and the price is attempting an upside correction.

There was a break above the 23.6% Fib retracement level of the recent decline from the $192 swing high to $170 low. It is now trading below $180 and the 55 simple moving average (4-hours).

It seems like the 50% Fib retracement level of the recent decline from the $192 swing high to $170 low is acting as a resistance near the $180 zone. On the upside, the price must clear $180 and the 55 simple moving average (4-hours) for more gains. The next key resistance could be $192. Any more gains could set the pace for a move towards the main $200 resistance in the near term.

An immediate support is near the $175 level. The next key support is near the $162 level, below which there is a risk of a move towards the $150 level.

Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading near $180 and the 55 simple moving average (4-hours). Overall, the price must stay above the $162 support to avoid more downsides in the near term.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now slowly pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.

Key Support Levels – $175 and $162

Key Resistance Levels – $180 and $192.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *