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- 1 Litecoin crypto price decreased by 2.38% over the past seven days.
- 2 Litecoin crypto price is currently trading at $64.33 with a drop of 0.02% in the last 24 hours with a current market cap of $5.402 Billion.
The Litecoin crypto continues to exhibit weakness on the charts as the sellers exerting significant pressure in recent trading sessions. Furthermore, the chart structure favors the bears, and the price continues to form negative candles, which shows a fight between bears and bulls.
At the time of writing, the Litecoin crypto trades at $64.33 with an intraday drop of 0.02%, indicating bearishness. Buyers are making efforts to gain traction in the market, but they are only able to secure a few critical levels of support. Intraday trading volume is 36.106K. Moreover, the LTC crypto suggests further volatility in the following sessions.
The Litecoin crypto is trading in a downtrend on the daily charts and has underperformed in the past months. Furthermore, the technical indicators continue to signal bearishness, with no signs of a bullish reversal or bounce occurring below the lower level.
Technical Analysis of Litecoin Crypto Price in 1-D Timeframe
On the 4-hour charts, the LTC coin is currently under the control of the sellers, and buyers are not able to surpass the range of neutrality. The price action indicates that sellers are persistently pushing back against the bulls below the lower trajectory, causing the gains from the top to erode.
The relative strength index (RSI) curve is near the neutral range of 46, indicating negative divergence and bearishness on the charts.
The MACD indicator also suggests a neutral signal, and both the moving averages converge, which suggests that a significant move can be shown in the upcoming sessions. At the time of publishing, Litecoin crypto (USD: LTC) is trading above the 50 and 200-day SMAs (Simple moving averages), which supports the price trend.
However, if selling volume adds up then the price might conquer supporting SMA’s by making lower highs and lows. Hence, the LTC crypto price is expected to move downwards giving bearish views over the daily time frame chart.
The current value of RSI is 47.25 points. The 14 SMA is above the median line at 47.13 points which indicates that the Litecoin crypto is bearish. The MACD line at -0.72 and the signal line at -1.15 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the LTC crypto price.
Summary
Litecoin (USD: LTC) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the LTC crypto price. Litecoin price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: $58.75 and $50.00.
- Resistance Levels: $71.83 and $78.46.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
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.
