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Litecoin (LTC) Price Analysis: Fresh Decline Possible Below $130

Summary:
Litecoin price failed to continue above the 0 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 key bullish trend line with support near 6 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could continue to move down if it breaks the 2 and 0 support levels in the near term. Litecoin price is slowly gaining pace below 0 against the US Dollar, unlike bitcoin. LTC price must stay above 0 to avoid more losses. Litecoin Price Analysis This week, there was a decent upward move in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the 0 level and it started a fresh increase. The bulls were

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  • Litecoin price failed to continue above the $150 resistance zone against the US Dollar.
  • LTC price is now trading below $140 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $136 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could continue to move down if it breaks the $132 and $130 support levels in the near term.

Litecoin price is slowly gaining pace below $140 against the US Dollar, unlike bitcoin. LTC price must stay above $130 to avoid more losses.

Litecoin Price Analysis

This week, there was a decent upward move in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a base above the $130 level and it started a fresh increase.

The bulls were able to push the price above the $140 level and the 55 simple moving average (4-hours). However, the price failed to continue higher above the $150 resistance zone. A high was formed near $150 before the price started a fresh decline.

The price traded below the $142 support level. It broke the 23.6% Fib retracement level of the upward move from the $105 swing low to $150 swing high. There was also a break below a key bullish trend line with support near $136 on the 4-hours chart of the LTC/USD pair.

The pair is now trading below $140 and the 55 simple moving average (4-hours). An immediate support is near the $132 level. The first major support is near the $128 level.

The 50% Fib retracement level of the upward move from the $105 swing low to $150 swing high is also near the $128 level. Any more losses might call for a drop towards the $120 level. On the upside, an initial resistance is near the $140 level and the 55 SMA.

The next key resistance is near the $148 level and $150. A close above the $150 level is needed for a strong increase in the near term.

Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading below $140 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $132 and $130 support levels in the near term.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly gaining 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 – $132 and $128.

Key Resistance Levels – $140 and $150.

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