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    Home»Analysis»Litecoin price analysis: LTC rejected at $60, moves downwards
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    Analysis

    Litecoin price analysis: LTC rejected at $60, moves downwards

    adminBy adminJune 27, 2022No Comments4 Mins Read
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    Breakdown of TL; DR

    • Litecoin price analysis suggests lateral movement below $ 60.00
    • The closest support level is $ 57.19
    • LTC faces resistance at the $ 60.10 mark

    The Litecoin price According to the analysis, LTC $ 60.00 resistance level And it’s back to the $ 57.00 mark.

    The broader cryptocurrency market has observed bullish market sentiment over the last 24 hours, as most major cryptocurrencies have recorded negative price fluctuations. Major players include NEAR and KSM, with a 5.90 percent and 5.67 percent decline, respectively.

    Litecoin Price Analysis: LTC Rejected for $ 60

    LTC / USDT technical indicators by Tradingview

    MACD is currently bearish, as shown by the red color in the histogram. However, the indicators show that the momentum has been low for the last few hours, as evidenced by the low height of the histogram. In addition, the bright shades of the histogram show that the bears are slowing down in the short term.

    EMA is currently trading above average positions as net price movements over the last 7 days have remained positive. However, due to low market activity, the EMA has moved horizontally above the average and 12-EMA is in control. The low slope of the EMA over the last few hours suggests less trading activity in the LTC market.

    The RSI was very high yesterday as it touched the boundaries of the overbought area, but has fallen since then. At the time of the press, the index traded around an average level of 50.00, hovering down at 54.49 and showing slight selling pressure. The current position leaves room for volatile movements in either direction, but the current slope suggests low pressure from the bearish side of the market.

    The Bollinger Bands were active on a wide range of channels until June 22, but converged as price behavior stagnated at around $ 55.00. Narrowing indicators now suggest lower price volatility, as either side of the market is currently struggling for control. When pressed, the average line of the indicator provides support with a mark of $ 57.19 and the upper limit indicates the resistance level with a mark of $ 60.10.

    LTC / USDT technical analysis

    Overall, the 4-hour Litecoin price analysis issues a buy signal at 12 of the 26 key technical indicators that support the bulls. On the other hand, there are only five indicators that support bears that have shown significant bearish presence in the last few hours. At the same time, nine indicators are located on the fence and do not support either side of the market.

    The 24-hour Litecoin price analysis does not share this sentiment and issues a sell signal with 11 indicators of downward movement as opposed to 7 indicators of upward movement. The analysis shows a bearish advantage across the medium-term chart, while showing strong buying pressure on assets across the medium-term chart. During that time, the eight indicators remain neutral and do not emit a signal when pressed.

    What do you expect from Litecoin price analysis?

    Litecoin Price Analysis: LTC Rejected at $ 60, Fall 2
    4 hour price chart by Tradingview

    Litecoin price analysis shows that the Bulls made another attempt at the $ 60.00 mark, while a failed attempt caused the price to fall to the $ 58.00 mark. Prices are currently flat between a support level of $ 55.00 and a resistance level of $ 60.00, but momentum remains low on either side.

    Traders can expect LTC to move sideways as the market speculates on Bitcoin’s next move. This proposal is reinforced by a medium-term technical analysis showing the difference between the 4-hour chart and the 24-hour chart. As a result, prices can fluctuate between $ 55 and $ 60 and fall to $ 50.00.

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