Litecoin Price Prediction: Is LTC Heading Towards All-Time Lows?

• The Litecoin crypto derivative trading volume has advanced by +4.38% in the last 24 hours.
• The LTC crypto is trading -84.35% below its all-time high price.

Litecoin is a layer 1 type cryptocurrency which refers to the base of the cryptocurrency. The original website of the LTC coin is litecoin.org. Long/short ratio for the crypto is 1.0636 and is trading with a higher short liquidation in the derivatives market.

The market cap of Litecoin is 4.747B USD and the fully diluted market cap is 5.383B USD, also the trading volume for the LTC coin in the last 24 hours is 227.743M. The all-time for the crypto is 413.60 USD and the max supply for the crypto is 84M.

The volume/market cap ratio of the LTC crypto is 4.79% as per CoinMarketCap and the market cap has declined by -0.38% in the last 24 hours. The market cap rank for the crypto is #15 and the market cap dominance is 0.435%. The crypto has advanced by +5,488.72% from its all-time low price.

Litecoin Technical Analysis in Daily Time Frame

The crypto was trading inside a rising wedge pattern for a very long time and has recently broken below the same and since the breakdown the price has declined by more than 16% and the structure of the market is still negative.

The crypto is trading in a death cross of the 50-day and the 200-day Exponential Moving Average following a preceding downtrend as the crypto price is trading below the moving averages. This indicates weakness in the market.

The RSI for the crypto has decline below the oversold level which indicates of bearishness and lack of momenmtum in the market. This behavior of RSI reprsents the presecnce of sellers.

LTC Technicals Summary 

Based upon the current technicals we can see that the oscillators are acting neutral in the market while moving averages are indicating for a sell as the makret is trading below the EMA’s. This overall results in weakness for the price of the crypto.

Conclusion

As Litecoin Price of the Litecoin has been consistently declining, the EMA and the RSI has become bearish on charts and the price structure still looks weak on charts.

Therefore, the price of the crypto may continue to decline unless it breaks above the level of $85.00 as breaking of price above the following level can lead to change in character and the price of the crypto may continue to advance from the following level.

Technical Levels: 

• The support levels for Litecoin Crypto are $48.00 and $65.00
• The resistance levels for the Litecoin Crypto are $85.00 and $102.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.