- Litecoin Price is traveling in a consolidated zone with a loss of more than 4%. There may be a negative moving average crossover on the daily chart.
- The technical LTC indicators point to a bearish trend for the coming weeks. Meanwhile, the LTC / BTC pair is also in a consolidated dynamic
The LTC coin price is currently trading near the $ 166 level, with an intraday loss of 4%. LTC is also called “Digital Silver” because of its similar properties to BTC. It has lost more than 50% in the recent downtrend. LTC coin price may encounter upside resistance near the $ 300 value. In contrast, asset price recovery is seen near $ 120. The Litecoin price is currently below 50 and 100 of the daily moving average. The 50MA (Blue) line is currently near $ 234, which makes it a temporarily hostile region for the price. The asset has over 3700% ROI, which is more than that of its competitors. The LTC / BTC pair is experiencing consolidated momentum but may soon see a major breakout.
Litecoin has a market cap of $ 13,376,144,847 and is currently ranked 12th in CMC. The asset’s 24-hour trading volume is also down 20%. The volume for one market capitalization of the LTC is 0.1691 and indicates an upward trend for the coming days.
Technical indicators point to a downward trend for the LTC coin price
The LTC’s weekly technical chart shows weak bearish momentum. On the daily chart, the price is lagging within a consolidated momentum. Litecoin price could see a big breakout if it rises above $ 200. If the price drops below $ 120, wait for the price action to do its job. The LTC / BTC pair could also see strong upside momentum in the coming days.
The volume indicator on the daily chart is at 276K, indicating selling pressure. There may be an increase in purchase volume if the asset price rises above $ 200
RSI (Bearish): The RSI for the coin is currently at 40, which suggests its presence in the neutral zone. The RSI has a small negative dip pattern, which suggests some bearish momentum. The overall sentiment of the RSI is negative.
The LTC coin price has remained profitable for its investors in the past and may remain the same in the future. It is currently on a dip but may soon see a downtrend in the coming days. Investors should exercise their due diligence before investing.
Main grant: $ 120
Main Resistance: $ 300
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