LTC declines to $100.6 as the bearish trend intensifies – Cryptopolitan

Litecoin price analysis shows a downward trend since the beginning of today. The bears have been dominant in the market, pushing the price down from a high of $101.35 to a low of $100.6. This is a 1.15 percent decrease in its value for the last 24-hour trading period. The bearish divergence in the Litecoin market has been fueled by increasing selling pressure as investors look to cash out their profits. In addition, a lack of new buyers and trading volume is also contributing to the downward trend. 

The support for the LTC/USD pair is currently at the $100.2 mark, and it may take some time before buyers start to enter the market again. If this support is broken, the next target could be a low of $98.95. On the other hand, if buyers dominate and push the price higher, then Litecoin could reach its previous high of around $101.27 again in a short period of time. Regardless of whether the bulls or bears are in control, it is important to note that Litecoin has been in a bearish trend for some time now. 

Litecoin price analysis 1-day chart: LTC/USD was held steady at $100.6 by a negative barrier.

The 1-day Litecoin price analysis for the LTC/USD price pair suggests that the bearish momentum is still strong. The market sentiment for Litecoin has shifted drastically since yesterday’s trading session, when it was able to make some gains and reach its current all-time high. The bears are now firmly in control, and it is important for traders to keep an eye out for any signs of a trend reversal.

Looking at the daily chart, the MACD indicator is in a bearish crossover and has been decreasing since the start of today. The RSI (relative strength index) also shows that Litecoin is oversold at the moment, suggesting that the bears may take a break soon. However, until these indicators show signs of improvement or new buyers enter the market, it is likely that the price of Litecoin will remain in a downtrend. Moreover, the 50-day moving average has crossed below the 100-day moving average, signaling a bearish trend in Litecoin.

LTC/USD 4-hour price chart: Bearish divergence continues as the market weakens

The four-hour chart for LTC/USD also shows bearish progress in the last few hours as the price levels continue to decline. The bearish pressure is expected to remain in place until the buyers can take control of the market and push the Litecoin price higher. The 24-hour trading volume has also declined significantly in the last few hours and is now at $559 million, while the market cap for LTC/USD stands at $7.277 billion.

The hourly technical indicators for Litecoin are indicating a bearish outlook for the LTC/USD pair. The RSI is currently at 53.32 and is trending downward, signaling that the bearish pressure is still strong and that the market is in a neutral zone. The moving average (MA) is also in a bearish crossover and has been trending downward since the start of the day. The MACD indicator is also showing signs of bearish divergence as it continues to decrease, indicating that further downward pressure could be on the way.

Litecoin price analysis conclusion

In conclusion, the Litecoin price analysis suggests that the bearish trend is still in control of the market. The four-hour chart and technical indicators are signaling a continuation of this movement, while the daily chart suggests that there could be a potential reversal if new buyers enter the market. Therefore, it is important to keep an eye out for any signs of improvement or bullishness before entering any trades.