- Litecoin drops more on the daily chart due to week crypto market sentiments and now trading near the crucial support levels of $120
- The LTC/BTC pair trading at 0.004065 BTC with an intraday drop of -1.98%
Litecoin price is trading on a bearish note and drops nearly -7.58% in intraday. The digital asset is trading under the descending triangle pattern, while its support is placed at $120, and $100 can be considered major support on a daily chart. Likewise, resistance on the higher side is set at $155 and $185. Currently, LTC is trading near the critical support of $120 while presently placed below the 20 and 50- Day Moving Averages(DMA). However, LTC is currently trading above 100 and 200-DMA, indicating no trend reversal from current levels.
Litecoin’s current price is placed at $124.43 with an intraday loss of -6.56%, the volume traded is $5,993,710,633, which drops over -2.27% in the last 24-hour. The total market capitalization stands at $8,257,680,726, which slips nearly -7.47% in intraday. The support on lower levels is situated at $120 and $110. Likewise, resistance on the higher side is placed at $135 and $147. LTC is trading under pressure on daily charts on account of weak global market sentiments, and one can use these tips for buying.
Relative Strength Index (Bearish) indicates a Bearish momentum while trading at 33.71. However, it is currently heading towards the oversold zone after falling from higher levels. However, a bounce is expected as it looks oversold.
Moving Average Convergence Divergence (Bearish) currently indicates a Bearish trend on the daily chart as it gives a negative crossover with the significance of sellers line(red) over buying signal line (green).
Support levels: $120 and $100
Resistance levels: $155 and $185.
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