Litecoin started a major decline from the 0 resistance 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 contracting triangle with support near 4 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could extend losses if there is a move below the 0 level. Litecoin price is gaining bearish pace below 0 against the US Dollar, similar to bitcoin. LTC price could extend losses if there is a move below 0. Litecoin Price Analysis This week, there was a key decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the 0 resistance zone. The price formed a top near 0 and started a major decline. There
Topics:
Aayush Jindal considers the following as important: Altcoin News, Litecoin, LTC, News, Trading
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
- Litecoin started a major decline from the $130 resistance against the US Dollar.
- LTC price is now trading below $120 and the 55 simple moving average (4-hours).
- There was a break below a key contracting triangle with support near $124 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair could extend losses if there is a move below the $110 level.
Litecoin price is gaining bearish pace below $120 against the US Dollar, similar to bitcoin. LTC price could extend losses if there is a move below $110.
Litecoin Price Analysis
This week, there was a key decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $130 resistance zone.
The price formed a top near $130 and started a major decline. There was a clear move below the $125 support level. There was also a break below a key contracting triangle with support near $124 on the 4-hours chart of the LTC/USD pair.
The pair settled below $120 and the 55 simple moving average (4-hours). It even tested the $110 level and is currently consolidating losses. On the upside, an initial resistance is near the $115 level.
The 23.6% Fib retracement level of the recent decline from the $130 swing high to $110 low is also near the $115 level. The first major resistance is near the $118 level. The main resistance is now forming near the $120 pivot level.
The 50% Fib retracement level of the recent decline from the $130 swing high to $110 low is also near $120. To start a fresh increase, the price must clear $118 and $120. In the stated case, the price could rise towards $130. The next key resistance could be $135.
On the downside, an immediate support is near the $110 level. The next key support is near the $105 level. If there is a downside break below the $105 support, the price could continue to move down towards the $100 level.
Litecoin (LTC) Price
Looking at the chart, litecoin price is clearly trading below $120 and the 55 simple moving average (4-hours). Overall, the price could extend losses if there is a move below the $110 level.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now 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 – $110 and $100
Key Resistance Levels – $118 and $120.