- The price trend of LTC is in a continuous downward trend this week.
- LTC/BTC pair is trading positive by 3.0% at 0.003815 BTC
- The 24-hour trading volume in Litecoin is $1,367 Billion
The daily technical chart of LTC represents price is trying to sustain above the support level. According to Pivot points (FIB), the critical support level for LTC is $113.0. However, if it makes a move above, the fundamental resistance level is $148.0. Meanwhile, the chart shows a Doji star candlestick pattern, which indicates a sideways trend reversal with high reliability.
The exponential moving average (EMA) composed of 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe the price rests below the EMA-200, ensuring a downtrend until the price stays below the EMA-200. Also, a death cross can be marked on the chart.
Volume of (8.946K) is beneath the MA of 20-days (29.345K). Selling pressure is low in LTC, making its price remain in negative zones. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.
The Schaff Trend Cycle indicator (bearish) with a 40.45 represents a sell signal in the coin, projecting a downtrend. Additionally, Investors can see a red sell signal and a downward slope in the index.
LTC Price Moves Below Multiple EMA’s
LTC price is at $120.0., with a daily gain of 3.8% and a weekly drop of 11.8%. In addition, the price gets rejected by the pivotal level. The STC indicator shows a sell signal, and the traders have guided the low selling pressure. The prices also dwell below EMA-200. Technically, the price is showing weakness and trying to sustain above the support level. Therefore, as with overall market sentiment, the trend remains bearish.