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Litecoin (LTC) Price Analysis: Bears In Control Below $150

  • Litecoin price is facing resistance near the $150 zone against the US Dollar.
  • LTC price is now trading below $150 and the 55 simple moving average (4-hours).
  • There was a break below a key bullish trend line with support near $156 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could start a fresh increase if it stays above the $140 support zone.

Litecoin price is consolidating above $140 against the US Dollar, similar to bitcoin. LTC price could resume lower if it breaks the $140 support zone.

Litecoin Price Analysis

This week, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $162 resistance zone and started a fresh decline.

There was a break below the $155 and $150 support levels. The price even spiked below the $145 support and the 55 simple moving average (4-hours). Besides, there was a break below a key bullish trend line with support near $156 on the 4-hours chart of the LTC/USD pair.

A low was formed near the $143 level and the price is now consolidating losses. There was a move above the $145 level. Litecoin is now facing resistance near the $148 level. It is near the 23.6% Fib retracement level of the downward move from the $162 swing high to $143 low.

The next major resistance for the bulls is near the $152 level. It is near the 50% Fib retracement level of the downward move from the $162 swing high to $143 low.

A clear move above the $152 level could pump the price. The next key resistance could be $162. On the downside, an immediate support is near the $142 level. The first key support is near the $140 level. If there is a downside break the $140 support, the price could visit $135. The next key support is near the $120 level, below which the price could slide towards the $110 level.

Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading below $150 and the 55 simple moving average (4-hours). Overall, the price could start a fresh increase if it stays above the $140 support zone.

Technical indicators

4 hours MACD – The MACD for LTC/USD is slowly losing pace in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.

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Litecoin (LTC) Price Analysis: Bears In Control Below $150 Blockchain, Featured, Home, Litecoin, News CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Key Support Levels – $142 and $140

Key Resistance Levels – $148 and $150.

The post Litecoin (LTC) Price Analysis: Bears In Control Below $150 appeared first on Live Bitcoin News.

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Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-bears-in-control-below-150/

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