- Litecoin is showing bearish signs and trading below $65 against the US Dollar.
- LTC price is now trading below $63.50 and the 55 simple moving average (4 hours).
- There is a key bearish trend line forming with resistance near $63.40 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase).
- The pair could start a decent increase if it clears the $65 resistance zone.
Litecoin price is struggling below $65 against the US Dollar, like Bitcoin. LTC price could continue to decline if it stays below the $65 resistance zone.
Litecoin Price Analysis
In the past few days, there was a fresh decline in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC settled below the $65 support zone to move into a bearish zone.
The price broke the $63.50 support zone and started a fresh decline. It even traded below the $62.50 support. A low has formed near $60.58 and the price is now consolidating losses. It is now trading below $63.50 and the 55 simple moving average (4 hours).
Immediate resistance is near the $62.00 level. It is close to the 23.6% Fib retracement level of the downward move from the $66.28 swing high to the $60.58 low.
The next major resistance is near the $63.50 level. There is also a key bearish trend line forming with resistance near $63.40 on the 4-hour chart of the LTC/USD pair. The trend line is near the 50% Fib retracement level of the downward move from the $66.28 swing high to the $60.58 low.
The main resistance sits near $65 and the 55 simple moving average (4 hours). A clear move above the $65 level could pump the price toward the $70 level. The next major resistance could be $72.
On the downside, immediate support is near the $60.50 level. The next key support is near the $60.00 level. If there is a downside break below the $60.00 support, the price could accelerate lower toward the $55 level in the near term.
Looking at the chart, Litecoin price is clearly trading below $63.50 and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $65 resistance zone.
Technical indicators
4 hours MACD – The MACD for LTC/USD is now gaining pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now below the 50 level.
Key Support Levels – $60.50 and $60.00.
Key Resistance Levels – $63.50 and $65.00.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-bears-could-remain-in-control-below-65/
- :has
- :is
- 23
- 28
- 40
- 50
- 58
- a
- above
- accelerate
- against
- also
- analysis
- and
- At
- average
- BE
- bearish
- bearish signs
- Bears
- below
- Bitcoin
- Bitcoin News
- Break
- Broke
- Chart
- clear
- clearly
- Close
- coinbase
- consolidating
- continue
- control
- could
- data
- Days
- Decline
- Dollar
- down
- downside
- downward
- Earlier
- Even
- few
- For
- formed
- fresh
- from
- gaining
- High
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- index
- into
- IT
- Key
- Level
- levels
- like
- Line
- Litecoin
- Litecoin (LTC)
- Litecoin (LTC) Price
- Litecoin price
- live
- Live Bitcoin News
- losses
- Low
- lower
- LTC
- ltc price
- LTC/USD
- MACD
- Main
- major
- max-width
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- pump
- relative
- relative strength index
- remain
- Resistance
- retracement
- Ripple
- rsi
- Settled
- Signs
- Simple
- sits
- start
- started
- strength
- Struggling
- support
- support levels
- Swing
- term
- The
- There.
- to
- toward
- traded
- Trading
- TradingView
- Trend
- us
- US Dollar
- was
- with
- zephyrnet