- Litecoin price is currently seeing a downside momentum on the daily chart and can soon break below the 100MA support. It is trading with a loss of more than 2.88%
- LTC price technical indicators suggests a strong downside momentum in price for the future. Meanwhile, LTC/BTC pair is also struggling to maintain its levels.
LTC crypto price is currently seeing a strong downtrend in price which can lead it to a support of $150. Litecoin price is currently trading near $180 with a loss of more than 3%. The asset price has formed a high of $240 in today’s trading session and has formed a low of $173 . LTC is up by more than 15000% from its all time low. It has to cover more than 60% of its current value to jump above its all time high.Resistance area of LTC price while going upwards can be observed near $250.
Meanwhile, the bounceback region of the coin price can be seen near $150 The token price is currently trading above 50 and 100 Daily Moving Average with a positive crossover in the past. The 100MA line is near the $170,acting as a crucial temporary support for the price.
If Litecoin price breaks below the 100MA then a strong downside momentum can be seen in future. LTC coin has an ROI of more than 3700% which has benefitted various classes of investors. The LTC/BTC pair can also see a breakdown below the crucial support in future.
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Litecoin has formed a huge bearish hammer candle on the daily chart with a very large volume. The market cap of the LTC along with its market dominance has seen a decline in the past few weeks. Volume to market capitalization ratio of the coin hints towards a recovery for the future
Technical Indicators Of LTC Crypto Price Suggests A Strong Downtrend
The weekly technical chart of LTC price suggests a bearish momentum for the future. While coming on to the daily chart the asset price is in the downtrend. If the coin price drops down 15 to 20% above the current level then a strong downside momentum can be seen The LTC/BTC pair might also hit it support in the future
The volume indicator of the coin price is near 5.147M, with a strong selling pressure. If the price goes above $250 then a strong buying volume can be seen
CONCLUSION
LTC coin price is currently observing a downtrend on the daily chart and can soon see a new low in the future. LTC/BTC pair might also see a strong downtrend
Technical Levels
Major Support:$150
Major Resistance:$250
