• Litecoin Price is traveling in a consolidated zone with a loss of more than 4%. It can give a negative crossover in the moving average on the daily chart.
  • LTC technical indicators suggest a bearish trend for the upcoming weeks. Meanwhile, LTC/BTC pair is also in a consolidated momentum

LTC coin price is currently trading near the value of $166 with an intraday loss of 4%. LTC is also called “Digital Silver” due to its similar properties to BTC. It has lost more than 50% in the recent downtrend. LTC coin price can face resistance on the upside near the value of $300. In contrast, a bounce-back in the asset price can be observed near $120. Litecoin price is currently trailing below 50 and 100 Daily Moving Average. The 50MA(Blue) line is currently near $234 making it a temporary hostile region for the price. The asset has an ROI of more than 3700% which is more than its competitors. LTC/BTC pair is seeing a consolidated momentum but can soon see a major breakout.

Litecoin has a market capitalization of $13,376,144,847 and is currently ranked 12th in CMC. The 24-hour trading volume of the asset has also seen a decline of 20%. The volume to a market capitalization of the LTC is at 0.1691 and is hinting at an uptrend for the upcoming days.

Technical Indicators Suggests A Downtrend For The LTC Coin Price

Source: Trading view

The weekly technical chart of the LTC highlights a weak bearish momentum. While coming on to the daily chart the price is trailing inside a consolidated momentum. Litecoin’s price might see a major breakout if it goes above $200. If the price goes down below $120, then one should wait for the price action to do its work. LTC/BTC pair might also see a strong upside momentum in the upcoming days.

The volume indicator on the daily chart is at 276K hinting at a selling pressure. It can see a rise in buying volume if the asset price goes above $200

RSI(Bearish): RSI for the coin is currently at 40 hinting at its presence in the neutral zone. There is a small negative slope formation in the RSI, which suggests a weak bearish momentum. The overall sentiment of RSI is negative.

CONCLUSION

LTC coin price has remained profitable to its investors in the past and can remain the same in the future. It is currently in a slump but can soon see a downtrend in the upcoming days. Investors should do their due diligence before investing.

Technical Levels

Major Support:$120

Major Resistance:$300

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(Excerpt) Read more Here | 2021-06-19 09:22:19
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