Litecoin price topped near the 5 level and corrected lower against the US Dollar. LTC price is now trading well below the 0 level and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near 0 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair is likely to continue lower if there is a downside break below the 0 support. Litecoin price is showing bearish signs below 0 against the US Dollar, similar to bitcoin. LTC price remains at a risk of more losses as long as it is below 5. Litecoin Price Analysis This week, there were mixed moves in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the 0 and 5 levels to start a strong
Topics:
Aayush Jindal considers the following as important: Altcoin News, Litecoin, LTC, News, Trading
This could be interesting, too:
Chimamanda U. Martha writes OSL Strengthens Partnership with Solomon JFZ Ahead of Hong Kong ETF Launch
Temitope Olatunji writes Japanese Metaplanet’s Purchase of Bitcoin Worth .25M Signals Growing Corporate Adoption
Godfrey Benjamin writes Here Are 3 Major Recent Cardano (ADA) Upgrades to Know
Steve Muchoki writes BNY Mellon Invests in Spot Bitcoin ETFs from BlackRock and Grayscale
- Litecoin price topped near the $335 level and corrected lower against the US Dollar.
- LTC price is now trading well below the $300 level and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $250 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair is likely to continue lower if there is a downside break below the $250 support.
Litecoin price is showing bearish signs below $280 against the US Dollar, similar to bitcoin. LTC price remains at a risk of more losses as long as it is below $275.
Litecoin Price Analysis
This week, there were mixed moves in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC formed a support base above the $220 and $225 levels to start a strong increase.
It gained pace above the $275 and $280 resistance levels. It even broke the $300 level and tested the $330 zone. A high was formed near $336 before the price started a sharp decline. There was a break below the $300 and $280 support levels.
The price is now trading well below the $300 level and the 55 simple moving average (4-hours). A low is formed near $233 and the price is now consolidating losses.
It cleared the 23.6% Fib retracement level of the recent decline from the $336 swing high to $233 low. However, the bulls are struggling to lead the price above the $270 level. It seems like the 55 simple moving average (4-hours) is acting as a strong resistance.
It is now moving lower and approaching the $250 support. There is also a key bullish trend line forming with support near $250 on the 4-hours chart of the LTC/USD pair.
If there is a downside break below the trend line, the pair could dive towards the $220 support. The next major support is near the $200 level. Conversely, the price might start a fresh increase above the $280 resistance and the 55 simple moving average (4-hours).
Litecoin (LTC) Price
Looking at the chart, litecoin price is now trading well below $300 and the 55 simple moving average (4-hours). Overall, the price is likely to continue lower if there is a downside break below the $250 support.
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 just below the 50 level.
Key Support Levels – $250 and $220.
Key Resistance Levels – $270 and $280.