Litecoin value has began a brand new decline from the $80 resistance in opposition to the US greenback. LTC is struggling and nonetheless faces the danger of additional losses in the direction of the $55 assist.
- Litecoin has began a brand new decline from the $85 resistance in opposition to the US greenback.
- The worth is at present buying and selling under $70 and the 100 easy transferring common (4-hour).
- On the 4-hour chart (information feed from Kraken), the LTC/USD pair is breaking under the principle contract triangle which is supported close to $75.00.
- The worth could proceed to drop in the direction of $55 within the close to future.
litecoin value turns crimson
Over the previous month, the worth of Litecoin has risen considerably in opposition to the US greenback to ranges above $70. LTC value has cleared the $80 resistance stage and outperformed each Bitcoin and Ethereum.
Nevertheless, the bears remained lively across the $85 zone. A topping sample fashioned close to $85 earlier than the worth began a brand new downtrend. It has damaged nicely under the assist ranges of $80 and $78. Furthermore, on his 4-hour chart for the LTC/USD pair, it has damaged under the most important contract triangle assist close to $75.00.
Litecoin value is at present buying and selling under $70 and the 100 easy transferring common (4 hours). The worth is now consolidating losses with a low close to $61.67.
On the upside, the quick resistance is close to $66.00. That is his Fib retracement stage of almost 23.6% of the latest decline from $79.80 excessive to $61.67 low. The primary large resistance is close to $70.00.
Supply: LTCUSD on TradingView.com
The 50% Fib retracement stage of the latest drop from $79.80 excessive to $61.67 low can be near $70. A transparent breakout of the $70 resistance can lead the worth up considerably. Within the aforementioned case, the worth could proceed to rise in the direction of the $75 and $78 ranges. Any additional positive aspects may ship the ltc value in the direction of the $80 resistance zone.
Extra LTC Losses?
Additional losses are doubtless if the Litecoin value fails to clear the $70.00 resistance stage. The primary assist on the draw back is close to $61.60.
The primary main assist is forming close to $60.00. Any additional loss may most likely ship the worth in the direction of the $55.00 assist within the subsequent session.
Technical indicators:
4 Hour MACD – The MACD is slowly choosing up tempo within the bearish zone.
4-hour RSI (Relative Power Index) – The RSI for LTC/USD is under the 50 stage.
Main Assist Degree – $60.00 adopted by $55.00.
Main resistance ranges – $70.00 and $75.00.
