TL;DR Breakdown

  • Litecoin price analysis shows a mixed market sentiment.
  • Support is present at $173.
  • Resistance is present at $193.

Litecoin price analysis for today is showing a slow bearish price movement. LTC/USD pair is struggling to maintain the current price level of $188 after the decline of yesterday when the price dropped from the level of $193. At the start of the day a minor bullish effort was noted but bears are again dragging the price to the lower side. Support is present at $173 followed by another strong support at $166, whereas resistance is found at $193.

LTC/USD pair is overall on a gain of 3 percent over the last 24 hours and at a loss of value of more than 17 percent over course of the last seven days. Today the pioneering Bitcoin and Ethereum are also showing gains of 3 percent and 3.2 percent respectively. Most of the altcoins are also showing some improvement in price triggered by the giants of cryptocurrency.

LTC/USD 1-day price chart: LTC to reattempt resistance breakout of $193

The 1-day Litecoin price analysis shows LTC/USD is struggling to maintain the current price levels. The price movement is slow and the volatility is on the high, but a positive turn in price movement can be expected as the moving average (MA) is diving down towards the price levels seems to be moving below the price level during the day.

If it happens which seems imminent then it will be a bullish crossover. Currently, the moving average is at $183.5.

LTC/USD 1-day price chart. Source: tradingview

The Bollinger bands show a constantly increased volatility with the upper band at $221 and the lower band at the $149 mark. The average of Bollinger bands is hovering above the price level at $185. The relative strength index (RSI) is near the centerline showing a score of 48.

LTC/USD 4-hours analysis: LTC receives mixed market sentiment

The 4-hours Litecoin price analysis shows a bearish trend for LTC/USD as price movement is minimal from the start, due to mixed market sentiment. The volatility though is almost persistent but the lower Bollinger band is slowly moving inwards indicating a slight decrease in volatility which can be a hopeful indication for the cryptocurrency.

Litecoin price analysis: LTC struggles to maintain $190 as decline looms ahead 2
LTC/USD 4-hours price chart. Source: Tradingview

The upper Bollinger band is at the $186 mark and the lower band is at the $172 mark. The average of Bollinger bands is forming at the $179 mark exactly above the price level. The recent positive development is that the moving average (MA) has moved just below the price level to the $178.32 mark, marking a bullish crossover, whereas the exact price is $178.40 at the time of writing.

The relative strength index (RSI) is still in the lower half of the neutral zone at a score of 45.7, but along with the moving average coming below the price level and slightly decreasing volatility, there seems to be enough room for buyers to come in.

Litecoin price analysis: LTC struggles to maintain $190 as decline looms ahead 3
LTC/USD technical indicators chart. Source: Tradingview

The technical indicators for Litecoin price analysis are almost neutral, with few important indicators showing bearish signals. out of a total of 26 technical indicators, nine are on the selling side and eight on the buying side, whereas nine show a neutral sign.

The moving averages are bearish as eight are on the selling side and only six on the buying side, whereas one stands neutral. MA10, 20, and exponential moving average (EMA)10, 20 are all n the selling side marking a bearish trend.

The oscillators are also almost neutral with eight oscillators including the important RSI indicator as neutral and one oscillator shows sell signal, and that is non-other than MACD, a major indication for many analysts. while two oscillators are on the buying side.

Litecoin price analysis: Conclusion

The 1-day and 4-hours Litecoin price analysis is showing a risky day for intraday traders as the price has moved down from the start of the day but some slight improvements in price are expected in the coming hours based on technical assessments.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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