Litecoin Price Analysis: LTC Traces Lower Highs; Seeks for Strong Support

  • Litecoin sees a downtrend over a day, calls for strong support levels
  • LTC has recently started trading below $71, yesterday’s two spikes above $72 couldn’t gain momentum

Litecoin price shows an improvement in its weekly trend as it has been trading above $70 except for a few dips near $69. However, the intraday chart shows a decline of the coin from $72 to $70.

LTC saw a sharp rebound from one such dip near $69.96 yesterday, and then it ranged between $71 to $72 for a few hours. It saw another surge at $72.62; after which, LTC price has not been able to cross above $72. Tracing a bearish trendline from there, it started trading around $71 till today morning.

Today, Litecoin is exploring depths as it has breached support levels near $71 recently. At 07:09:46 UTC, Litecoin is trading at $70.71.

LTC/USD Price Chart

Litecoin Price ChartLitecoin Price Chart
Litecoin Price Chart

The technical indicators are set to enter the bullish zone while SMA lines are already showing positive signs. Here, the 200-day SMA line is below the 50-day SMA line.

Litecoin Technical Indicators

RSI is approaching 60, showing no extremities at the moment. MACD has just formed a bullish crossover and is in the bearish zone. Litecoin may face resistance at $72.3, $73.79, and $74.9 while can meet support levels at $69.7, $68.59, and $67.1.

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