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Litecoin technical analysis: LTC/USD went down from $75.65 to $75.15 this Saturday

  • LTC/USD has found resistance on the downward trending line.
  • The hourly LTC/USD price is currently trending horizontally.

LTC/USD daily chart

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Following a bullish Friday, LTC/USD managed to have a bearish start to Saturday. This Friday, the price of LTC/USD went up from $73.50 to $75.65. Litecoin has gone down to 75.15 so far this Saturday and is facing resistance from the downward trending line. The price is trending below the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) indicator shows a reversal of market momentum from bearish to bullish.

LTC/USD 4-hour chart

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The 4-hour LTC/USD price is consolidating in a flag formation. The price is trending above the SMA 50 and SMA 20 curves and is below the SMA 200 curve. The 20-day Bollinger jaw is widening a little bit, which hints at increasing market volatility. The Elliott oscillator has had four straight bullish sessions.

LTC/USD hourly chart

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The hourly LTC/USD is trending horizontally around the $75.25 resistance line. The price has spiked above the green Ichimoku cloud. The relative strength index (RSI) indicator was trending right next to the overbought zone and then dipped down to 61.

Key Levels

LTC/USD

OVERVIEW
Today last price75.14
Today Daily Change-0.3854
Today Daily Change %-0.51
Today daily open75.5254
TRENDS
Daily SMA2082.1848
Daily SMA5092.4926
Daily SMA100105.1278
Daily SMA20084.6756
LEVELS
Previous Daily High76.0343
Previous Daily Low72.5179
Previous Weekly High79.0884
Previous Weekly Low70.0674
Previous Monthly High127.2049
Previous Monthly Low76.4679
Daily Fibonacci 38.2%74.691
Daily Fibonacci 61.8%73.8611
Daily Pivot Point S173.3508
Daily Pivot Point S271.1762
Daily Pivot Point S369.8344
Daily Pivot Point R176.8671
Daily Pivot Point R278.2089
Daily Pivot Point R380.3835

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Litecoin Price Analysis: Make or break as LTC/USD tests key $65 support

  • Litecoin price defends the $65 support by all means to avert the risks of sliding towards $50.
  • The sellers remain largely in control of the trend especially with both the RSI and the MACD in critical selling zones.

Litecoin price is in shambles just like the other major cryptocurrencies in the market. Instances of recovery have been very rare since the declines kicked off on Monday. The gravitation, especially with Litecoin price has been relatively unstoppable. Expected support areas at $80, $75 and $70 have been left shattered and a pale shadow of what they once were. However, sellers have camped in the same very zones waiting to exert more pressure on the already battered bulls.

Meanwhile, LITC/USD is doddering at $68.48 after suffering a 3.35% loss on the day. An intraday high formed at $72.12 is now the ultimate short term resistance. Litecoin price, further explored the levels close to the key support at $65. The buyer congestion in the zone has pulled LTC upwards, however, there isn’t enough power to send the price above $70 (resistance area).

Litecoin price technical picture

The 2-hour chart shows Litecoin trading under a two-month-long ascending trendline. The trendline has in the past function as support (latest on February 20). Recovery above $70 could take a while especially now that both the RSI and the MACD are sending more bearish signals. Litecoin price is also trading below the moving average, which gives the sellers an upper hand.

If support at $65 caves in, LTC/USD could fall further toward the next zone at $50. However, consolidation at between $65 and $70 is likely to allow the bulls to refocus their attention on levels above $80 and ultimately $100.

LTC/USD 2-hour chart

LTC/USD price chart

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Litecoin (LTC/USD) forecast and analysis on February 26, 2020

Cryptocurrency Litecoin (LTC/USD) is trading at 75.10. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator strip.

Litecoin (LTC/USD) forecast and analysis on February 26, 2020

As part of the Litecoin course forecast, a test of the level of 73.10 is expected. Where should we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 81.60. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 72.10.

Litecoin (LTC/USD) forecast and analysis on February 26, 2020

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and closing quotations of the pair below the area of ​​68.80. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, it is worth waiting for the acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on February 26, 2020 implies a test level of 73.10. Further, growth is expected to continue to the area above the level of 81.60. The conservative buying area is located is near the area of ​​72.10. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 68.80. In this case, we should expect continued fall.

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Litecoin News Today – Litecoin LTC Price Lost 8% in the last 24-hours, February 25, 2020

  • The price of Litecoin plummets by 8%
  • Litecoin LTC price remains bullish against the USD
  • Short-term upward movement for Litecoin LTC

Litecoin news today – The overall digital currency market has reportedly seen a sharp selloff at the opening on trade today. This selloff is primarily down to Bitcoin’s most recent rejection at the $10,000 area. This action sent the price of the number one asst reeling back to $9,500. Which in turn led the majority of altcoins including the price of Litecoin down. Altcoin’s saw some notable downside in the last 24-hours. Today’s digital currency market-wide bloodbath, might not be enough to give any validation to Litecoin’s bullish market movement. This is because the crypto is still trading well above its important near-term support position. This strong support has led one analyst to note that LTC’s mid-term outlook is “insanely” bullish, suggesting it could soon incur some notable upwards momentum.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
Litecoin$71.35-2.38%

Litecoin LTC Price Plummets by 8%

Litecoin News Today – As of when this content has published the price of LTC was trading downwards having lost 8% in the last 24-hours with a current price of $72.50. This move marks a significant drop for the coin from its daily high point of $80 that was set yesterday at the time that the price of Bitcoin began to rally to the $10,000 area. Something that failed to happen as the coin stayed at $9500. The firm rejection that Bitcoin price saw at $10,000, has now sparked a short-term market selloff which has sent shock waves, with multiple major digital coins plummeting well over 5%. Against Bitcoin (LTC/BTC) trading pair, the price of Litecoin has plummeted by 5% in the last 24-hours. According to a digital currency trader known as Bitcoin Jack, LTC’s current price trend in correlation to BTC comes from several bearish factors. These factors have been expressed by the coin in the last few days.

Litecoin LTC Remains Bullish Against the USD Regardless

LTC news today – Note that despite the overt bearish pressure indicated in Litecoin’s short-term market structure, the bulk of crypto analysts are of the view that the price of LTC could see some form of mid-term upward action against the USD. George, one well-respected crypto trader, explained that he purchased LTC recently and that the coin’s weekly close still looks insanely bullish. He also added that the coin’s price will remain on the bullish side as long as it can hold above the key support area at roughly $65. If the coin continues to move higher in the week ahead. Even though Litecoin’s overall market trend may appear dependent on the action of Bitcoin and what the aggregated market becomes, it will appear that LTC is set to see further short-term upward movement in the coming days.

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