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- 1 Litecoin (LTCUSD) is currently trading at $90.65 with an incline of -0.07% in the 24 hours.
- 2 The Litecoin price is observing a decrease of -1.46% in the last 7 days.
- 3 The LTC market capitalization is $6.658 Billion.
Litecoin is struggling to recover but facing rejections from higher levels. An analysis of the price action reveals uncertainty for the asset. The price dropped by 1.41% in the past seven days.
From its all-time high of $1.15, it plunged by 77.85% in the last 2 years. The current market sentiment towards the coin is neutral. A decent volume is entering Litecoin at present. However, it looks like there is no big buyer interested in Litecoin.
Furthermore, Litecoin may face more challenges and risks in the volatile and competitive crypto market. Nevertheless, Litecoin may benefit from any positive developments in the crypto space or its project.
LTC Coin Price Technical Analysis
The price of Litecoin (LTC) has been fluctuating around 50 and 200 SMAs, which indicates that the price movement is uncertain. If the sellers keep the pressure on, the coin’s value may decline next week.
The technical indicator MACD is moving towards a negative zone. The MACD line at 0.86 and signal line at -0.14 are under the zero line, implying that the MACD is moving toward the positive zone and is giving bullish signs.
The RSI read 46.28 points at press time. The 14 SMA line is currently under the middle line, around 47.17 points showing bullish market sentiment. The bearish trend is shown by the 14-day SMA line going below the middle line. As the price moves toward the oversold zone, the market is experiencing bearish sentiment.
Conclusion
In Litecoin (LTC), a fierce battle between bulls and bears is visible as the coin tries to bounce back. The price movement shows that the price may rise more in the following days if the upper resistance level is broken. LTC price indicates a positive scenario at the moment. The EMA, RSI, and MACD are giving neutral signs about Litecoin. There has been a spike in investor confidence because of the excellent performance of the coin in recent times. Litecoin is not showing any recovery signs right now.
Technical Levels:
- Support – The current support level is $83.14.
- Resistance –The current resistance level is $102.00.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not take this information as financial or trading advice. Trading and investing contain financial risk. Before making any investment or trading decision, please consider your risk profile and circumstances.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
