The price of Litecoin (LTC) has recently been on a bearish trajectory as the bears have taken control of the market and pushed the price down to the level of $91.84. The price has fallen from $94.43, the intraday high, to its current level. As of now, the sellers are dominating the market and the buyers have yet to take control to push the price back up. There is an upper limit of resistance that exists at the $94.43 mark, and should the buyers manage to break it, we could potentially see a change in the negative trend for Litecoin. However, there is immediate support for LTC at the level of $90.86 which could act as a base that contain the falling price. Should the support fail to prevent Litecoin from heading down to a new low, the price could find a key support level at $90.00.

In terms of technical analysis, the current indicators signal to us that Litecoin is in a state of bearish momentum. The Relative Strength Index (RSI) has reverted, with a recent value of 54.52 and pointing down. Furthermore, a situation of bearish cross is visible in the Moving Average (MA): the 50-day MA is placed below the 200-day MA. This situation is further corroborated by the downward trend of the market's histogram in the MACD chart. As for the hourly chart of LTC/USD, the price is trending lower and the buyers are still absent from the market. The RSI has dropped to 50.22 while MACD indicator is heading towards negative territory. The moving average 4-hour chart also shows that red candlesticks dominate their green counterparts.

Altogether, this Litecoin price analysis indicates that the down trend is still very much present in the market. More bearish pressure could be coming towards the price in the near future if the bulls fail to break the $94.43 upper-resistance level. In such a case, the price of LTC/USD may fall to the lower support level of $90.00.



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