- Litecoin value began a recent decline beneath the $135 and $130 assist ranges towards the US Greenback.
- LTC value is buying and selling simply above the $120 assist and it’s nicely beneath the 55 easy transferring common (4-hours).
- There was a break beneath a key bullish development line with assist close to $136 on the 4-hours chart of the LTC/USD pair (information feed from Coinbase).
- The pair may right greater, however it’s more likely to face many hurdles comparable to $135 and $140.
Litecoin value is exhibiting bearish indicators beneath $135 towards the US Greenback, just like bitcoin. LTC value may dive if there’s a clear break and shut beneath $120.
Litecoin Worth Evaluation
This week, there was a recent decline in bitcoin, Ethereum, ripple, and litecoin towards the US Greenback. Earlier, LTC made an try to realize energy above the $150 resistance stage, but it surely failed.
The latest swing excessive was shaped close to $148 earlier than the worth began a recent decline. There was a transparent break beneath the $135 assist stage and the worth settled beneath the 55 easy transferring common (4-hours).
There was additionally a break beneath a key bullish development line with assist close to $136 on the 4-hours chart of the LTC/USD pair. The pair even broke the $125 assist and spiked beneath $120. A low is shaped close to $118 and the worth is at present consolidating losses above $120.
It’s testing the 23.6% Fib retracement stage of the downward transfer from the $148 swing excessive to $118 low. The primary main resistance is close to the $132 stage.
The 50% Fib retracement stage of the downward transfer from the $148 swing excessive to $118 low can also be close to $133 to behave as a hurdle. The principle resistance is now forming close to the $140 stage and the 55 easy transferring common (4-hours).
There may be additionally a connecting bearish development line with resistance close to $140 on the identical chart. If there is no such thing as a upside break above $132 or $140, there’s a threat of extra downsides. An preliminary assist is close to the $120 stage. If there’s a clear break beneath $120 and $118, the worth may dive in the direction of the $100 assist.
Wanting on the chart, litecoin value is clearly buying and selling in a bearish zone beneath $132 and $135. General, the worth may right greater, however it’s more likely to face many hurdles comparable to $135 and $140 within the close to time period.
4 hours MACD – The MACD for LTC/USD is at present dropping momentum within the bearish zone.
4 hours RSI (Relative Power Index) – The RSI for LTC/USD is nicely beneath the 50 stage.
Key Help Ranges – $120 and $100.
Key Resistance Ranges – $132 and $140.