Litecoin price analysis: LTC/USD bearish for the next 24 hours

TL;DR Breakdown

• Litecoin price analysis suggests upwards movement to $140
• The closest support level lies at $120
• LTC found resistance at $150.

Litecoin price analysis reveals that the asset’s price movement was rejected at $144.00 and subsequently fell to $120.00 support. Whether or not the buyers have regrouped around $128.0, selling pressure at $130 continues to haunt LTC price action.

The Litecoin price analysis implies that the asset’s price movement was rejected at $144.00 and has since fallen back to the $120.0 support area. Whether or not the buyers have regrouped around $128.0, selling pressure at $130 continues to haunt LTC price action.

LTC faces resistance at the $128 mark, corresponding to the 38.2% Fibonacci Retracement level of this asset’s previous wave from $108.50 – $144.80. Finally, it is worth noting that Litecoin‘s price analysis points at a short-term bearish

Litecoin price movement in the last 24 hours: Bullish signals?

The closest support level lies at $120, which supports the asset’s price movement. Consequently, the asset will likely stop its downward trend once it reaches the $120 mark. Otherwise, further losses are expected to take the Litecoin price analysis to $110.00 and below.

On the other hand, LTC faces resistance at the $128 mark, which corresponds to the 38.2% Fibonacci Retracement level of this asset’s previous wave from $108.50 – $144.80. Finally, it is worth noting that Litecoin price analysis points at a short-term bearish trend.

LTC/USD 4-hour price analysis chart: Recent price developments

The hourly chart of Litecoin is a bullish one. With that being said, recently, the LTC/USD pair has been consolidating at $125 in a range-bound movement. As can be seen in the above image, price action ranges between $122.00 and $128.00, with the support being at $120.00 and the resistance being at $128.00.

The RSI of Litecoin is now at 57, which suggests that the asset’s price movement will reach levels between $130.00 and $128.00 in the upcoming hours. Also, the MACD of Litecoin is slowly but steadily gaining momentum below its zero boundaries; therefore, an upwards price movement to $130 might be expected soon. The RSI of Litecoin is now at 57, which suggests that the asset’s price movement will reach levels between $130.00 and $128.00 in the upcoming hours. Also, the MACD of Litecoin is slowly but steadily gaining momentum below its zero boundaries; therefore, an upwards price movement to $130 might be expected soon.

Litecoin price analysis: Conclusion

LTC/USD pair is performing a short-term bearish trend. Nevertheless, it is likely for this asset’s price to reach $120.00 and re-bounce from there, as this level provides support for the asset’s price movement.

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