Litecoin(LTC)/USDT Technical Analysis at a Glance
Litecoin which once comfortably resided within the top 10 has quietly slipped down to the lower positions and may also be out of the top 20 if failed to act accordingly. The trading volume and the market capitalization has also suffered a notable drain due to which the price has been impacted adversely. However, the recovery path appears to have already been set, just a little push is the need of the hour for the asset to swing along the path.
|Short Term||The price appears to have been pretty neutral, yet could accumulate bullish momentum very soon|
|Mid-Term||LTC price after the steep recovery from the recent sell-off could experience yet another correction as the buyers appear exhausted|
|Long-Term||Litecoin price has bottomed hard in the long term and selling pressure continues to mount indicating a continued downtrend|
Litecoin Technical Indicators
Litecoin Price(LTC) amid the bull rally 2021 successfully ranges high above $400 to mark a new ATH. However, a brutal sell-off dragged the price close to $100 which was beyond anyone’s expectation. And ever since then the asset is utilising every resource to regain the levels above $238 but failed. Currently hovering around $155, the asset is feared to continue with the downtrend, yet the small time frame displays a contrasting scenario.
The price in the short term is ranging high towards the upper bands testing the average levels of Bollinger bands. However, despite being hopeful of a bullish trend in the short term, the asset manifests the continued bearish trend in the long term. The price appears to be cemented along with the lower band and each attempt to break through the consolidation is appearing to have gone in vain.
Relative Strength Index(RSI)
The RSI followed a downtrend line since mid-November 2021 and currently is hovering around the lower levels in the long term. However, the RSI is attempting to surge yet the depleting volume is acting as a barrier. In the short term, the RSI levels appear to be elevated and on the path towards the upper resistance.
After undergoing a notable uptrend as a result of a buy signal displayed after 100-MA crossed 200-MA levels, a flip moment is expected to occur soon. Both the MA levels appear to cross yet once again in the long-term but indicate the bearish trend as 100-MA is crossing the 200-day MA and moving towards the south. However, in the short term, the price is hovering in between both the MA levels which act as resistance and support levels.
The MACD had been completely bearish for a month and from the past week, the selling pressure appears to have eased. And a flip from the bearish trend is possible in the long term. The short term also displays a similar trend.
Litecoin(LTC) Price Analysis for the Week
The primitive altcoin still existing LTC token was among the crypto which remained away from its highs for quite a long time. And being the oldest altcoin, it is considered as one of the most undervalued cryptos compared to Bitcoin or Ethereum. Yet after undergoing a tremendous bull rally in the first half of 2021, the asset yet again awaits for the same bullish momentum, yet failed to gain. It appears that bears waited for a prolonged period and with a single jump, they extracted their profit quickly.
Source: TradingView Date: 13-12-2021 Time : 02:00pm
- The Litecoin(LTC) price is trending within a descending parallel channel signifying a bearish trend.
- A narrow trend around the $155 levels haunts the rally as the trading volume has miserably depleted below $1 billion
- The minimum levels to flip the bears would be around $170 and having a daily close above these levels may reignite the bullish trend
Despite the LTC price displaying a huge bearish trend in the higher time frame, yet it’s extremely bullish in the smaller time frame.
Source: Tradingview Date: 13-12-2021 Time : 02:00pm
- The litecoin price in the STF is swinging well in an ascending triangle which in turn signifies a notable uptrend incoming
- The asset is hovering along the uptrend line and eventually range high to hit the local resistance levels around $170
- The downtrend appears to be pretty unlikely as the asset is poised to surpass the resistance very soon.
Litecoin(LTC) Price Analysis for Today: 13 December 2021
The LTC price today is a little bearish compared to that of the previous day’s trade. The asset is hovering around $155.73, initiating recovery of just 0.40%. The trading volume remains depleted at nearly 3.41% while the market capitalisation is above $10 billion with a minute jump of 0.41%.
Where to buy Litecoin(LTC)
Like Bitcoin and Ethereum, Litecoin also is the most primitive token in the crypto space. And hence, most of the crypto exchanges have already listed the asset on their platform. However, if you want to buy Litecoin(LTC) and are searching for a trusted platform, CoinDCX is at your rescue.
CoinDCX is India’s most trusted platform with a wide variety of assets. Trade your favourite assets here at affordable prices and with ease. All you need to do is download CoinDCX Mobile App, register yourself following in simple steps.
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