Litecoin (LTC) Worth Evaluation: Danger Of Additional Losses Earlier than Rebound


Litecoin worth struggled to interrupt the $50.00 resistance and declined not too long ago in opposition to the US greenback. LTC might prolong losses in direction of $44.00 earlier than it might bounce again within the close to time period.

Key Speaking Factors

  • Litecoin worth topped just under the $50.00 resistance and declined (Information feed of Kraken) in opposition to the US Greenback.
  • There was a break under a serious bullish pattern line with help at $48.00 on the hourly chart.
  • LTC worth stays at a threat of extra losses in direction of the $45.00 and $44.00 help ranges.

Litecoin Worth Evaluation (LTC)

After a gradual rise above the $45.00 resistance, litecoin worth confronted sellers close to the $50.00 degree in opposition to the US greenback. The LTC/USD pair began a serious decline and broke the $47.50 help degree to maneuver right into a bearish zone.

Litecoin Price Analysis LTC Chart

Wanting on the chart, LTC worth didn't climb above the $49.50 and $50.00 resistances. A swing excessive was fashioned at $49.11 and later the value began a downward transfer. It broke the $48.00 help and the 23.6% Fib retracement degree of the final wave from the $42.36 low to $49.11 excessive.

Furthermore, there was a break under a serious bullish pattern line with help at $48.00 on the hourly chart. It opened the doorways for extra losses under the $47.00 degree and the 100 hourly easy transferring common.

The value is at present buying and selling with a bearish angle under $47.50 and it might prolong losses in direction of the $45.00 help. It coincides with the 61.8% Fib retracement degree of the final wave from the $42.36 low to $49.11 excessive.

Nonetheless, the primary help is close to the $44.00 degree, under which the value might maybe decline in direction of the $42.35 swing low. On the upside, an preliminary resistance is close to the $47.00 degree and the 100 hourly SMA. To maneuver right into a constructive zone, the value should surpass the $48.00 resistance zone.

Total, litecoin worth is beneath strain under $48.00 and up to date bearish strikes in Ethereum, ripple, bitcoin, binance coin, EOS, and bitcoin money might enhance promoting strain on LTC within the coming classes.

The market knowledge is offered by TradingView.

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