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Litecoin (LTC) Price Analysis: Bulls Face Uphill Task Near $92

Summary:
Litecoin started a fresh decline below the zone against the US Dollar. LTC price is now trading below and the 55 simple moving average (4 hours). There was a break below a key rising channel with support near on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could continue to move down if it stays below the resistance zone. Litecoin price is struggling below against the US Dollar, similar to Bitcoin. LTC price could continue to decline if it stays below the resistance zone. Litecoin Price Analysis In the past 2-3 sessions, there were swing moves in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC started a fresh decline from the 4 zone. There was a clear move below the 0 and support

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  • Litecoin started a fresh decline below the $92 zone against the US Dollar.
  • LTC price is now trading below $92 and the 55 simple moving average (4 hours).
  • There was a break below a key rising channel with support near $96 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could continue to move down if it stays below the $92 resistance zone.

Litecoin price is struggling below $92 against the US Dollar, similar to Bitcoin. LTC price could continue to decline if it stays below the $92 resistance zone.

Litecoin Price Analysis

In the past 2-3 sessions, there were swing moves in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC started a fresh decline from the $104 zone.

There was a clear move below the $100 and $98 support levels. Besides, there was a break below a key rising channel with support near $96 on the 4-hour chart of the LTC/USD pair. The pair even broke the $92 support and tested the $84 zone.

A low is formed near $84.21 and the price is now rising. There was a move above the 50% % Fib retracement level of the downward move from the $94.01 swing high to the $84.21 low.

It is now trading below $92 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near the $90.50 zone. It is close to the 61.8% Fib retracement level of the downward move from the $94.01 swing high to the $84.21 low.

The next major resistance sits near the $92 level. The main resistance is near the $94 level. A clear move above the $94 level could pump the price toward the $98 level or even $100. The next major resistance could be $105.

On the downside, immediate support is near the $86.50 level. The next key support is near the $84.20 level. If there is a downside break below the $84.20 support, the price could accelerate lower toward the $80 level in the near term.

Litecoin (LTC) Price Analysis: Bulls Face Uphill Task Near $92

Litecoin (LTC) Price

Looking at the chart, Litecoin price is clearly trading below $92 and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $92 resistance zone.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now losing 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 – $86.50 and $84.20.

Key Resistance Levels – $90.50 and $92.00.

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