Connect with us

Litecoin

Litecoin price analysis: LTC rejected from the further upside at $279, downside to continue?

Published

on

  • Litecoin price analysis is bearish today.
  • Support for LTC is present at $262.
  • Resistance is found at $294.

The Litecoin price analysis is showing bearish signs today again after rallying high yesterday. LTC/USD was unable to break above the $279 level, and the bearish return suppressed the price function from moving higher. The selling pressure exists at the level of $279, and LTC faced rejection from further upside.

Yesterday a spike in price was observed as the LTC has been highly bullish from the 8th November, but today again, the bears are countering the gains by devaluing the price down as selling pressure is building in the market. Despite the overall bullish trend, yet LTC is correcting again today.

LTC/USD 1-day price chart: LTC encounters selling pressure

The 1-day Litecoin price analysis shows a decline in the price has happened today, and Litecoin is again suffering from loss. Bears diverted the bullish efforts and are trying to restrict the price below the $279 range. The LTC/USD pair is trading hands at $275 at the time of writing. Due to yesterday’s surge in price, the LTC still shows a gain in the value of eight percent over the last 24 hours and an increase in value of more the 32 percent over the past week, as the coin has gained good value during this time. The trading volume, though, is low today but reports a gain of 22 percent over the last day.

Litecoin price analysis: LTC rejected from the further upside at $279, downside to continue? 1
LTC/USD 1-day price chart. Source: TradingView

The volatility has been increasing from 8th November and is still prevalent, with Bollinger bands ends widening apart continuously. The upper band is present at the $287 mark, while the lower band is present at the $156 mark, and the mean average is found at the $221 mark below the price level, representing support for the coin.

The relative strength index (RSI) is on a slight downwards slope but still present in the overbought region at index 73, though still on the higher side, the indicator shows the entrance of sellers in the market. The moving average (MA) is found at $253, still far below the price level, complementing the overall bullish scenario for LTC.

Advertisement

Litecoin price analysis: Recent developments and further technical indications

The 4-hour price chart for Litecoin price analysis shows bears have taken over the market today. As the price movement was upwards for 16 hours continuously, but from the start of today’s session, the selling pressure has build-up and is working by lowering the price value, as red candlesticks are appearing on the chart since the start of today’s session. However, the loss is not overwhelming.

Litecoin price analysis: LTC rejected from the further upside at $279, downside to continue? 2
LTC/USD 4-hours price chart. Source: TradingView

The volatility is high for LTC as Bollinger bands are expanding again, and the price level is going down after crossing above the upper limit of the Bollinger bands yesterday, as the price has traveled below the upper band, it has converted into resistance for LTC at the $281 mark. The RSI has also been decreasing in recent hours and is trading at a downwards slope at index 61.

Litecoin price analysis conclusion

The Litecoin price analysis report shows a devaluation of LTC price, as the price has been lowering for the past eight hours, but the downfall is not steep, and overall, LTC is bullish. The price has come down to $275, and chances are there for a further decrease. A reversal in the current bearish momentum is also possible if support from the bullish side comes in.

News Source

Advertisement

Litecoin

Litecoin Forecast and Analysis December 3, 2021

Published

on

LTC/USD are traded at the level of 204.06 and continue to move within the correction and the downward channel. The capitalization of the Litecoin cryptocurrency at the time of the publication of the forecast is $14,068,777,013. Moving averages indicate a short-term sideways trend in Litecoin. Prices went down from the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the area of ​​185.05. Where can we expect a rebound upward again and a continuation of the rise in the Litecoin rate with a potential target above the level of 255.05.

Litecoin Forecast and Analysis December 3, 2021

An additional signal in favor of raising the LTC/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Head and Shoulders reversal pattern. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 175.05 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 135.05. With the breakdown of the resistance area and closing of quotations above the level of 225.05, we should expect confirmation of the development of the bullish trend in Litecoin and the beginning of the development of the “Head and Shoulders” reversal pattern.

Litecoin Forecast and Analysis December 3, 2021

Litecoin Forecast and Analysis December 3, 2021 suggests an attempt to correct and test the support area near the level of 185.05. Where can we expect a rebound and continued growth in the LTC/USD price to the area above the level of 255.05. An additional signal in favor of an increase in Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 175.05 area. This will indicate a continued fall in the cryptocurrency with a target below 135.05.

News Source

Advertisement
Continue Reading

Litecoin

Litecoin price must hold critical support to avoid crash to $100

Published

on

  • Litecoin price action is precarious as it flirts with final support zones that would threaten a deep sell-off.
  • $180 represents the most vital area of support for Litecoin, which it must hold.
  • Recent whipsaws in Litecoin’s movement make upside potential difficult.

Litecoin price shows significant weakness on its daily chart, with the current support at $200 showing signs of failure.

Litecoin price could retest its final and most substantial level of support at $180

Litecoin price is currently trading against some strong support at the $200 level, though the support is unlikely to hold and more downside is expected. $200 is not just an important and natural psychological number, but it is also the 50% Fibonacci retracement. The daily Tenkan-Sen (blue moving average) is just above the $200 level at $205.

While those levels all indicate a collection of strong near-term support, the position of the Chikou Span and the Cloud warn that $200 may not hold. The Cloud up ahead shifts, abruptly, much higher over the next two trade days.

Additionally, by Sunday (December 5th), if Litecoin is still trading in the same value area, the Chikou Span will slide below the candlesticks, and Litecoin price will shift below the Cloud. Consolidation: here is not a supportive condition but rather a bearish warning sign.

Advertisement

$180 is the strongest and final support zone for Litecoin price. The 38.2% Fibonacci retracement and 2021 Volume Point Of Control all reside within the $180 level. Failure to hold $180 could trigger a move to retest the June 2021 lows at the $100 value area.

LTC/USD Daily Ichimoku Chart

Litecoin price must close above the daily Kijun-Sen and Cloud at the $240 value area to invalidate any near-term bearish expectations. Traders should look for any major bullish spike that would result from the daily candlesticks respecting Senkou Span A (top of the Cloud) as support. Sharp and fast moves higher on Saturday and Sunday would be expected in that event. 

News Source

Advertisement
Continue Reading

Litecoin

Litecoin price analysis: LTC steps down to $205 as bears pierce through bullish momentum

Published

on

  • Price dropped down to $205.6 level.
  • Litecoin price analysis supports the bears.
  • Support is still stable at $198.5.

The Litecoin price analysis shows the price is headed down as a downshift in price trend has been recorded today. The bearish strike has impacted the cryptocurrency value as a decrease in price has been observed. The bearish impulse has taken the LTC/USD value down to the $205.6 limit, as bears managed to make an entry amid the recent bullish momentum. So, overall the cryptocurrency has been following a decreasing trend for today.

LTC/USD 1-day price chart: Price takes a turn downwards

The one-day Litecoin price analysis is showing unexpected results for the coin today, as a downward movement has been recorded. The bearish strike has been quite of an impact as the price has moved down to the $205.6 level in the last 24 hours. The price function had been quite stable during the past week as a continuous upwards trend was observed. The moving average indicator (MA) is present at a value of $205.98, just above the price level.

Litecoin price analysis: LTC steps down to $205 as bears pierce through bullish momentum 1

The red candlestick in the 1-day price chart is signaling a decrease in the price of LTC/USD today. The Relative Strength Index (RSI) curve has come down to index 46 because of the bearish intervention. The Bollinger bands’ values have changed during the day as well, and now the upper band is showing a $264 value, and the lower band is showing a $176 value.

Litecoin price analysis: Recent developments and further technical indications

The four hours Litecoin price analysis is predicting a restoration of the upward trend again as the price has started to climb again in the past few hours. Although the LTC/USD has been facing a strict decline earlier today, the price has turned towards the upside in the last eight hours. However, the LTC price is still below the moving average value, which stands at $209.

Litecoin price analysis: LTC steps down to $205 as bears pierce through bullish momentum 2
LTC/USD 4-hours price chart. Source: TradingView

The volatility has been mild on the 4-hour chart, which is why the Bollinger bands average has not changed much and is present at $207, representing resistance for LTC. Meanwhile, the upper Bollinger band is present at the $217 mark, and the lower Bollinger band is at the $196 mark representing support for LTC. The RSI is trading at index 48 on an upwards slope, hinting at the restoration of buyers’ momentum.

The overall indications for the cryptocurrency are on the bearish side because of the larger trend to be downwards. There are 10 indicators that are standing on the neutral position, 11 indicators are on the selling position, and five indicators on buying position, out of a total of 26 technical indicators available for analysis.

Advertisement

Litecoin price analysis conclusion

The Litecoin price analysis suggests after getting hit by the bears, LTC is regaining the momentum as the price has been traveling upwards during the last few hours. We expect the recovery to follow for a few hours more before facing resistance at the $207 level again.

News Source

Advertisement
Continue Reading