Litecoin Price Analysis: LTC May Crash Below $113.0 Support In Upcoming Days

Source: LTC/USD on TradingView

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.

Resistance: $148.0

Support: $113.0