Home
News
- 1 Litecoin price is facing bearish dominance in recent trading sessions showing the shifting of trend.
- 2 LTC price breaks below the key moving averages showing the bearish influence on the price.
- 3 The cryptocurrency gave a negative return of -18.18% last week.
The Litecoin crypto (LTC) crypto price is in the bearish region and has been displaying bearish waves for the past few sessions. Moreover, the cryptocurrency is struggling to sustain gains above the key moving averages and is heading in a downward direction. The crypto has declined over 18% this month.
At press time, LTC price was trading at $81.24 with an intraday loss of 3.53%. It has a monthly return of 12.72% and a negative return of 18.18%, showing a weakness in the momentum. It has a market cap of $5.93 Billion. Analysts are bearish and suggest the LTC price will attain lower levels in upcoming sessions.
Litecoin Crypto Price vs Volume Analysis
Based on the graph of price and volume, the trading volume has dropped from $2.85 billion to $742.16 Million from the second week of March and the price has also declined from $100 to $81. Suppose the trading volume keeps declining then it may leave a negative impact on the price.
Litecoin Crypto Social Dominance vs Social Volume
The graph showing social dominance and social volume has exhibited a decline in the past few weeks, resulting in a negative trend. This change in social dominance and social volume may impact the future momentum of the LTC coin price.
Active Addresses (LTC) Analysis
As per the santiment data, the number of daily active addresses was the highest in January this year, and from then on the declining phase which is a negative signal.
Technical Analysis On a Daily time frame
LTC by writer12_gsm on TradingView.com
The LTC cryptocurrency was under selling pressure on the short-term charts. Price fell below a key EMA level, signaling further weakness. Technical indicators are also bearish. RSI is near the oversold level of 38 and MACD has formed a bearish crossover with the red band. These signals suggest that the cryptocurrency may face further correction.
Summary
Litecoin price is trading below the key moving averages showcasing the bearishness on the daily time frame. As per santiment data, the price and volume have declined in recent times, and other technical indicators also indicate a further decline in the cryptocurrency.
Technical Levels
Support Levels: $75.52 and $68.35
Resistance Levels: $94.00 and $100.00
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 research before making any financial decisions.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
