Home Litecoin Litecoin price analysis: LTC retests $135 again, prepares for another aggressive push lower?

Litecoin price analysis: LTC retests $135 again, prepares for another aggressive push lower?

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TL;DR Breakdown

  • LTC consolidates beneath $135 in a single day.
  • Market makes an attempt to interrupt increased once more.
  • Litecoin to focus on $120 help subsequent.

Litecoin price evaluation is bearish for right now because the market checks the $135 and fils to maneuver any increased as of now. Subsequently, we are able to anticipate LTC/USD to push decrease to the $120 mark early subsequent week.

Litecoin price analysis: LTC retests $135 again, prepares for another aggressive push lower? 1
Cryptocurrency warmth map. Supply: Coin360

The general market trades with a slight bullish outcome during the last 24 hours. Bitcoin has elevated by 0.36 %, whereas Ethereum by 1.46 %.

Litecoin worth motion within the final 24 hours

LTC/USD traded in a spread of $130.92 – $135.35, indicating a reasonable quantity of volatility. Buying and selling quantity has decreased by 15.88 % and totals $1.239 billion. The entire market capitalization stands round $9 billion, rating the cryptocurrency in thirteenth place total.

LTC/USD 4-hour chart – LTC prepares to push decrease?

On the 4-hour chart, we are able to see the Litecoin worth retesting the earlier help as resistance in preparation for one more transfer decrease.

Litecoin price analysis: LTC retests $135 again, prepares for another push lower?
LTC/USD 4-hour chart. Supply: TradingView

The general market trades in an more and more extra bearish momentum over the previous week. After LTC/USD set a better excessive on the finish of June, the market retraced and tried to achieve additional highs in the beginning of June.

After a number of days of bullish stress, LTC couldn’t transfer previous the $150 mark and established a double prime reversal sample. What adopted was a several-day consolidation and a spike decrease from there. 

A decrease low was set across the $128 mark and Litecoin retraced a few of the loss to retest the $135 help as a resistance. Subsequently, we are able to anticipate that additional upside is not going to be seen later right now and the market will begin trending decrease once more to the $120 support.

Litecoin Worth Evaluation: Conclusion 

Litecoin worth evaluation is bearish for the following 24 hours because the market discovered resistance across the $135 mark and prepares to push decrease to the $120 help subsequent. Because of this we are able to anticipate LTC/USD to set one other decrease low and attain decrease over the rest of this month. 

Whereas ready for Litecoin to push decrease, learn our guides on DeFi advantages, Bitcoin fees, in addition to what can you buy with Bitcoin.

Disclaimer. The knowledge supplied shouldn’t be buying and selling recommendation. Cryptopolitan.com holds no legal responsibility for any investments made primarily based on the knowledge supplied on this web page. We strongly suggest impartial analysis and/or session with a professional skilled earlier than making any funding selections.


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