- The price of LTC is trading at $77.01.
- The LTC price decreased by 0.51% in the last 24 hours.
- The LTC year-to-date return is +9.90%.
The amount of Litecoin traded in a day stands at $314188887. It rose by 16.04% since the last day. The trading activity at present is low because the market is unfavorable and there are not many buyers for the coin. Therefore, it can’t push the price anywhere due to the low volume present in the market which we can observe on the graph.
This week the trend was bearish as the price was down by 0.59%. By trend and price information history, we can say that LTC is underperforming right now. The coin’s value has grown by more than 1900% in all-time history. But the market history was adverse therefore the market mood is bleak and there is a lack of demand or trading activity for the coin. This may explain why the coin has performed so poorly.
In 1-D Timeframe
As per the trendline, it respects the drawn trendline on the chart very well. From the point where it declined from the trendline, it’s been bearish. As per the price action, it has been following the channel currently. It is facing resistance from the dashed diagonal trendline making the short-term trend a 45-degree trend and it took support from the below trendline a couple of days back. So, as price action speaks, it might fall again to take support and if it fails, there will be a possible breakdown.
With the help of just two parameters: period and multiplier, this indicator works well. At period value 20 and multiplier value 2, it shows the continuous trend if it’s bullish or bearish. As shown in the chart, it’s bearish.
As we can see in the chart, the blue line or MACD line crossed the signal line from above while making a bearish crossover a few days ago. This indicates a bearish trend signal. On the day of writing, the MACD line and the signal line are on the negative side of the MACD indicator. This highlights that the trend may continue downward.
The price is going down on the 1D chart. It is below the 200 EMA(exponential moving average), which is a hard line to cross. The sellers are stronger than the buyers. To change the direction, the price has to go up and stay above the 200 EMA.
The Litecoin price is trading at its lower band after failing to surpass the upper band in the Bollinger Band indicator. After facing rejection from the 20-day Simple Moving Average (SMA) of the Bollinger Bands, it is indicating more downward move.
As per the price action, the LTC coin price is bearish. As of now, the technical parameters indicate bearish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bearish.
- The Nearest Support Zone is $70.20.
- The Nearest Resistance Zone is $89.61.
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.