Litecoin is showing bearish signs and trading below against the US Dollar. LTC price is now trading below and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near .20 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could start a decent increase if it clears 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 few days, there was a fresh decline in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC settled below the support zone to move into a bearish zone. The price broke the
Topics:
Aayush Jindal considers the following as important: Altcoin News, LTC, News, Trading
This could be interesting, too:
Godfrey Benjamin writes Tether Inks Bitcoin and Stablecoins MOU Deal with RAK DAO
Steve Muchoki writes Fantom-based Equalizer DEX Reports System Attack Leading to Loss of Users’ Funds
Mayowa Adebajo writes Bitcoin Hashrate Dips Post-Halving, Here’s Why
Chimamanda U. Martha writes Tornado Cash Developer Sentenced to 64 Months for Laundering .2B
- Litecoin is showing bearish signs and trading below $66 against the US Dollar.
- LTC price is now trading below $65 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $63.20 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
- The pair could start a decent increase if it clears the $66 resistance zone.
Litecoin price is struggling below $66 against the US Dollar, similar to Bitcoin. LTC price could continue to decline if it stays below the $66 resistance zone.
Litecoin Price Analysis
In the past few days, there was a fresh decline in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC settled below the $70 support zone to move into a bearish zone.
The price broke the $68 support zone and started a fresh decline. It even traded below the $66 support. A low has formed near $61.43 and the price is now consolidating losses. It is now trading below $65 and the 55 simple moving average (4 hours).
Immediate resistance is near the $63.20 level. There is also a key bearish trend line forming with resistance near $63.20 on the 4-hour chart of the LTC/USD pair.
The 23.6% Fib retracement level of the downward move from the $70.68 swing high to the $61.43 low is also just above the trend line. The next major resistance is near the $65 level and the 55 simple moving average (4 hours).
The main resistance sits near $66 or the 50% Fib retracement level of the downward move from the $70.68 swing high to the $61.43 low. A clear move above the $66 level could pump the price toward the $70 level. The next major resistance could be $72.
On the downside, immediate support is near the $61.80 level. The next key support is near the $61.40 level. If there is a downside break below the $61.40 support, the price could accelerate lower toward the $58 level in the near term.
Looking at the chart, Litecoin price is clearly trading below $65 and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $66 resistance zone.
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 – $61.40 and $60.00.
Key Resistance Levels – $65.00 and $66.00.