- Litecoin price continues its downtrend after creating its new 52-week high of $185; meanwhile, it also slipped below 20-DMA
- The pair of LTC/BTC is trading at 0.003883 BTC with a minor intraday gain of 1.03%
Litecoin (LTC) price is trading on the bearish note on the monthly chart; however, it holds above significant moving averages of 100 and 200-Day. Meanwhile, LTC is trading below 20 and 50-DMA, indicating bearish momentum in the short term. Support on the downside is placed at $110 and $90; meanwhile, the resistance on a higher level is $155 and $186. This $185 level’s breakout can give the targets of $200 and $245 in upcoming trading sessions. Currently, LTC is facing the resistance of 20-DMA on a short term time frame, which is placed around $138.
On the daily chart, LTC indicates a bullish momentum as bounced after testing its support of $120 and now indicating the recovery with overall market conditions. Currently, litecoin is trading at the price level of $132 with an intraday gain of +1.53%, the volume traded is $5,334,789,088 with an intraday jump of +3.06%. The total market capitalization increased over +1.38% standing at $8,826,040,522. The daily chart’s resistance is placed at $140 and $148, while support is placed at $125 and $115.
Relative Strength Index (Bullish) indicates a Bullish momentum while trading at 52.16. However, it is currently heading towards the overbought zone after recovering from lower levels.
Moving Average Convergence Divergence (Bullish) currently indicates a Bullish trend on the daily chart as it is about to give a positive crossover with the significance of buying signal line (green) over sellers line(red) with no sign of weakness.
Support levels: $110 and $90
Resistance levels: $155 and $186.
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