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- 1 Litecoin (LTCUSD) is currently trading at $83.92 with an decline of -0.08% in the last 24 hours.
- 2 The Litecoin price is observing a decrease of 10.64% in the last 7 days.
- 3 The LTCUSD market capitalization is $6.169 Billion.
Litecoin is facing a tough recovery as it meets resistance from higher levels. The price action shows ambiguity for the asset. The price fell by 1.41% in the last week. It plummeted by 79.53% from its record high of $410.26 in two years. The market mood for the coin is neutral.
Litecoin has a fair volume inflow. But it seems that no big buyer is betting on Litecoin. Litecoin may encounter more hurdles and risks in the unstable and competitive crypto market. However, it may also gain from any positive news in the crypto space or its own project.
LTC Coin Price Technical Analysis
The price of Litecoin (LTC) is below the 50 and 200 SMAs, which indicates that the price movement is a downtrend. If the sellers maintain the pressure, the coin’s value may decline further next week.
However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the LTC price is expected to move downwards giving bearish views over the daily time frame chart.
The MACD is moving towards a negative zone. The MACD line at -2.75 and signal line at -2.09 are under the zero line, implying that the MACD is moving toward the positive zone and is giving bullish signs.
The RSI read 39.74 points at press time. The 14 SMA line is currently under the middle line, around 42.62 points which shows bullish sentiment in the market. 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.
Technical Levels:
- Support Level: $70.56.
- Resistance Level: $115.30.
Conclusion
Litecoin (LTC) is showing a strong fight between bulls and bears, as the coin is attempting to recover. The price movement indicates that the price may climb higher in the next few days if it breaks the upper resistance level. LTC price shows a positive outlook right now. The EMA, RSI, and MACD are giving neutral signals for Litecoin. There is a surge in investor confidence due to the excellent performance of the coin lately. Litecoin is not displaying any signs of recovery at the moment. However, traders should remain cautious and consider conducting additional fundamental analysis before making any investment decisions.
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
