Litecoin price is showing bearish signs and it declined from the 0 resistance against the US Dollar. LTC price is now trading well below the 0 level and the 55 simple moving average (4-hours). There was a break below a declining channel 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 below 0 and 5 in the near term. Litecoin price is showing bearish signs below 0 and 5 against the US Dollar, similar to bitcoin. LTC price could dive further unless it gains strength above 5. Litecoin Price Analysis This week, there was a downward move in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC made a couple of attempts to gain strength above 0 and
Topics:
Aayush Jindal considers the following as important: Altcoin News, Litecoin, LTC, News, Trading
This could be interesting, too:
Pareesh Phulkar writes P’Nut the Squirrel: Could This Be the Second Coming?
Bilal Hassan writes Sheila Warren to Step Down as CEO of CCI in January
Bilal Hassan writes Sui Partners with Ant Digital to Tokenize ESG Assets
Bilal Hassan writes Riot Platforms Boosts Bitcoin Holdings with 0 Million Purchase
- Litecoin price is showing bearish signs and it declined from the $200 resistance against the US Dollar.
- LTC price is now trading well below the $200 level and the 55 simple moving average (4-hours).
- There was a break below a declining channel with support near $180 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair is likely to continue lower below $170 and $165 in the near term.
Litecoin price is showing bearish signs below $200 and $195 against the US Dollar, similar to bitcoin. LTC price could dive further unless it gains strength above $185.
Litecoin Price Analysis
This week, there was a downward move in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC made a couple of attempts to gain strength above $200 and $202.
However, the bulls failed to gain strength, resulting in a fresh decline from the $200 barrier. The recent swing high was near $198 before there was a break below $190. There was also a break below a declining channel with support near $180 on the 4-hours chart of the LTC/USD pair.
The pair dipped below the $180 support zone and settled well below the 55 simple moving average (4-hours). A low is formed near $171 and the price is clearly showing bearish signs.
If there is a downside break below the $171 and $170 levels, there is a risk of more losses. The next major support is near the $165 level, below which the price could decline further towards the $150 level.
On the upside, an initial resistance is near the broken channel at $178. It is close to the 23.6% Fib retracement level of the downward move from the $198 high to $171 low. The next major resistance on the upside is near the $185 level.
The 50% Fib retracement level of the downward move from the $198 high to $171 low is also close to $185. The main resistance is now forming near $195, the 55 simple moving average (4-hours), and $200.
Litecoin (LTC) Price
Looking at the chart, litecoin price is now trading well below $200 and it is testing the 55 simple moving average (4-hours). Overall, the price is likely to continue lower below $170 and $165 in the near term.
Technical indicators
4 hours MACD – The MACD for LTC/USD is currently gaining pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now well below the 50 level.
Key Support Levels – $170 and $165.
Key Resistance Levels – $185 and $195.