Litecoin price analysis: LTC/USD stumps at $99.46 after a bearish rally
Litecoin price analysis is facing a bearish rally. LTC/USD has been trading for some time in the negative territory and is now stumping at $99.46. The price has been lowered to the current level after a bearish rally that started from $100.48. The downtrend has been strong, and the price is likely to remain weak in the near future. However, the bulls are not giving up yet, and the support for Litecoin is found at $99.13.
The 24-hour trading volume of the coin is $453 million, which is slightly lower than the previous day’s trading volume. The market capitalization of the coin stands at $7.17 billion, and it is likely to remain relatively stable for now.
LTC/USD 1-day price chart: Bearish activity at peak as price levels shrink further
The 1-day price chart for Litecoin price analysis also demonstrates bearish momentum because the bears are successfully maintaining their advantage. The LTC value has somewhat declined over the last couple of hours. At the time of writing, it is $99.46 and is declining, with a decrease of 0.82% over the last 24 hours.
The daily chart for LTC indicates a bearish crossover with the MACD, indicating more losses in the near term. The Relative Strength Index (RSI) is still trending lower and is currently positioned at 57.53; any further downside pressure could take it even lower. The 50-day Exponential Moving Average (EMA) is currently noted at $95.89, while the 200-day EMA is seen around $97.42, indicating that bulls need to take control of the market soon and bring in some buying pressure or else prices could continue lower from here.
Litecoin price analysis: Recent developments and further technical indications
The 4-hour Litecoin price analysis shows that the price level will continue to drop as long as bears maintain their dominance. The LTC value is fluctuating around $99.46 after going through some degree of fall in recent hours.
The hourly technical indicators display that the 9-EMA and the 21-EMA are also bearish and indicate a downward trend for the pair. The relative strength index (RSI) has sunk down to index 54.74 on the hourly charts. It is now in the direction of the oversold region. The MACD levels are also showing bearish momentum in the market, with the orange line below the blue line. The MACD histogram also appears to be in negative territory, indicating a bearish market for LTC.
Litecoin price analysis conclusion
The Litecoin price analysis is giving support for the sellers, as a consistent drop in LTC/USD value is observed. The price lowered to $99.46 in the last 24 hours, as the bears were leading the game even today. The chart displays bearish pressure; the next target for bears could be $100.48. The technical indicators confirm the bearish momentum in the market, although a new wave of buyers could soon enter and turn bullish. Thus, it is advised to remain vigilant about the Litecoin price trend in the near future and make informed trading decisions accordingly.
