The latest Litecoin price analysis is a negative one as the coin is trading near its support level of $90.83. As of now, LTC/USD is currently trading at $91.63 and bears have been able to take control of the market as they are attempting to push prices lower than the current level. The immediate resistance for the coin lies around $95.13 and if the bulls are able to break above this level, it could result in further gains for the coin.
LTC/USD 1-day price chart: Litecoin faces further downside as price falls below $95.13
The bearish trend is taking over the market as Litecoin price analysis value underwent a marked decline in the last 24 hours. This trend is expected to intensify in the coming few hours, as the selling pressure is getting high. The price is now standing at $91.63 after facing a massive shock today. The moving average (MA) value in the one-day price chart is at a relatively stable position for now at $96.33.
The price is moving below 50 MA and 200 MA now, which indicates a bearish trend. The Relative Strength Index (RSI) is also quite low and is touching the under-bought limit at 45.28, which suggests that the sellers are in control of the market at this moment. The MACD chart is also showing negative signs at the moment as the red line is above the blue line. This indicates that LTC/USD could face further downside in the coming hours and days if no significant buying pressure appears in the market.
Litecoin price analysis: Price levels collapse below $91.63 after bearish drift
The four-hour Litecoin price analysis indicates a declining trend for the cryptocurrency, as the bears have been maintaining their lead. In the past four hours, the LTC/USD value drastically declined to $91.63 because of ongoing selling pressure. The bearish trend has been consistent for the past few hours and will most expectedly remain strong in the upcoming hours.
The four-hour price chart’s moving average is settled at the $93.62 mark. The Moving average converges divergence (MACD) chart is also showing negative signs as the red line is above the blue line. The RSI value of Litecoin price analysis has also entered into bearish territory and is currently settled at 33.40 points, indicating further downside potential in the near term.
Litecoin price analysis conclusion
Overall, the Litecoin price analysis reveals a bearish trend in the market as prices have been declining for quite some time. The four-hour and one-day charts are both showing signs of further downside potential if no significant buying pressure appears in the market.
