The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
  • Login
The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
The Market Periodical
Home News

LTC Price Analysis: Litecoin Price Downtrend Reached Near 50-DMA or Trend Line Support

Pratik Chadhokar by Pratik Chadhokar
May 17, 2021
in News
0
LTC
288
SHARES
2.2k
VIEWS
Share on FacebookShare on Twitter
  • Litecoin price after a significant selloff now reaches near the support area of 50-day moving average and at a crucial trend line
  • The coin, after creating a new all-time high of $412 and now LTC continuously witnessing a selling pressure and has created a strong downtrend
  • The pair of LTC/BTC is down by -2.02%, standing at 0.006331 BTC; similarly, the pair of LTC/ETH is CMP at 0.08347 ETH with intraday gains of +2.96% 
Source: tradingview

Over the monthly chart, Litecoin price reaches near the initial support zone of 50-DMA. After creating a new all-time high of $412, LTC is experiencing a significant selloff. The coin price now reaches near the crucial support zone of 50-DMA and near the vital trend line. While, if the coin manages to sustain above 50-DMA, we can see a good price recovery. Similarly, if LTC breaks 50-DMA, we can observe more selloff until the vital trend line acts as a rising support line. Support on the lower side is at $270 and $230; likewise, resistance on the higher side at $340 and $420. However, after a  meaningful or healthier correction, we can see the positive momentum or pullback soon. 

Weekly Chart Projects a Significant Bearish Momentum

Source: tradingview

Litecoin price over the weekly chart projects a significant bearish momentum, and all technical parameters suggest weakness. Meanwhile, the coin is now near the support zone, and we can see some recovery or pullback from lower levels. However, the overall trend is still bullish, and every dip can be used for accumulation. Presently, LTC price is trading at $285 with an intraday loss of -7.60% and volume down by -6.75%, standing at $5,450,642,009. 

Related articles

DASH Price Analysis: Should You Invest in Dash Crypto or Not?

DASH Price Analysis: Should You Invest in Dash Crypto or Not?

August 9, 2022
Basic Attention Token Price Analysis: BAT Bulls Trying to Sustain above Consolidation Phase

Basic Attention Token Price Analysis: BAT Bulls Trying to Sustain above Consolidation Phase

August 9, 2022

Relative Strength Index (BEARISH) indicates bearish momentum while trading at 36.62. However, after a sharp selloff, LTC is trading near the oversold zone, and soon a positive pullback or momentum can be expected. 

Moving Average Convergence Divergence (BEARISH) currently indicates a bearish trend on the daily chart. It is trading with the significance of the seller’s line (red) over the buyer’s signal line (green). While both the lines are overlapping each other and no clear momentum is seen.  

Support levels: $270 and $230 

Resistance levels: $340 and $420 

Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction.

Share115Tweet72
Pratik Chadhokar

Pratik Chadhokar

Pratik Chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.

Related Posts

DASH Price Analysis: Should You Invest in Dash Crypto or Not?

DASH Price Analysis: Should You Invest in Dash Crypto or Not?

by Nancy J. Allen
August 9, 2022
0

DASH coin recently moved above an upside parallel channel on the one-hour time frame.The DASH coin is trading above the...

Basic Attention Token Price Analysis: BAT Bulls Trying to Sustain above Consolidation Phase

Basic Attention Token Price Analysis: BAT Bulls Trying to Sustain above Consolidation Phase

by Antonio K Smith
August 9, 2022
0

Basic Attention Token price is trying to sustain above the horizontal; range-bound area over the daily price chart.BAT crypto has...

Monero Price Analysis: Will XMR Maintain the Uptrend Momentum and its Recovery in this Channel?

Monero Price Analysis: Will XMR Maintain the Uptrend Momentum and its Recovery in this Channel?

by Ritika Sharma
August 9, 2022
0

Monero price is trying to recover itself inside the rising parallel channel over the daily chart.XMR crypto has recovered above...

1inch Network Price Analysis: 1INCH Rising Through an Interesting Pattern, Know Whereabouts!

1inch Network Price Analysis: 1INCH Rising Through an Interesting Pattern, Know Whereabouts!

by Nancy J. Allen
August 9, 2022
0

1inch Network price is trading inside a rising wedge pattern over the daily chart.1INCH crypto has recovered above 20 and...

Shiba Inu Price Analysis: SHIB Consolidates inside an Ascending Triangle, What about its Recovery?

Shiba Inu Price Analysis: SHIB Consolidates inside an Ascending Triangle, What about its Recovery?

by Antonio K Smith
August 9, 2022
0

Shiba Inu price is trying to surge through an ascending triangle pattern over the daily chart.The crypto asset has recovered...

Load More
  • Trending
  • Comments
  • Latest
charged-particle-backdrop

Charged Particles Helps in Making the Future of Nextgen NFTs

May 13, 2021
AMP Price Analysis: AMP Coin Trading in Horizontal Range-Bound consolidates, Will it be able to retain up to $0.088?

Will Amp Token’s Escalating Demand Drive Its Price To $1?

February 21, 2022
Powerledger

Powerledger is revolutionizing the world of energy

January 31, 2022
ETH

Ethereum Analysis: Ethereum Hits A New All-Time High of $1467; ETH On Longspan Bull Rally?

January 28, 2021
DASH Price Analysis: Should You Invest in Dash Crypto or Not?

DASH Price Analysis: Should You Invest in Dash Crypto or Not?

0
Bitfinex

Bitfinex Lets Users Earn on their Bitcoin with Celsius

0
Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

0
Cryptocurrency

U.S. Congress Members Have Introduced 40 Bills on the Subject of Cryptocurrencies

0
DASH Price Analysis: Should You Invest in Dash Crypto or Not?

DASH Price Analysis: Should You Invest in Dash Crypto or Not?

August 9, 2022
Basic Attention Token Price Analysis: BAT Bulls Trying to Sustain above Consolidation Phase

Basic Attention Token Price Analysis: BAT Bulls Trying to Sustain above Consolidation Phase

August 9, 2022
Monero Price Analysis: Will XMR Maintain the Uptrend Momentum and its Recovery in this Channel?

Monero Price Analysis: Will XMR Maintain the Uptrend Momentum and its Recovery in this Channel?

August 9, 2022
1inch Network Price Analysis: 1INCH Rising Through an Interesting Pattern, Know Whereabouts!

1inch Network Price Analysis: 1INCH Rising Through an Interesting Pattern, Know Whereabouts!

August 9, 2022
  • Home
  • Contact Us
  • SUBMIT PR

© 2022 The Market Periodical

 
No Result
View All Result
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
  • Contact Us

© 2018 JNews by Jegtheme.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?