Litecoin managed to reverse downtrend from $157 to $170 mark

Litecoin managed to reverse downtrend from $157 to $170 mark.

The Litecoin hype is back. After a short selloff from over $200 back in September, the crypto is getting some much needed support and right now sits at $170.40, which is a 15% gain over the last two weeks. The good news is that Litecoin’s sentiment has gotten a lot better as more people are investing in the currency. Litecoin just managed to reverse downtrend from $157 to $170 mark as the bulls are slowly gaining momentum.

Litecoin managed to reverse downtrend from $157 to $170 mark. Litecoin managed to reverse downtrend from $157 to $170 mark. Litecoin managed to reverse downtrend from $157 to $170 mark. Litecoin managed to reverse downtrend from $157 to $170 mark. Litecoin managed to reverse downtrend from $157 to $170 mark. Litecoin managed to reverse downtrend from $157 to $170 mark.

Summary of the situation

  • LTC corrected to $170 after the bears failed to hold the market hostage.
  • The bearish move is now taking place on the 20-day EMA and has reinforced the pullback from $169 to $167.
  • At the time of writing, LTC is trading at $167.

Litecoin Price Analysis: Price Overview

Litecoin’s price action on the 24-hour chart has been oscillating between bearish and bullish zones since the start of the day, with the RSI immediately moving from overbought to oversold and back to oversold. This, along with the wide daily range, from an intraday low of $166 to a high of $173, indicates high market volatility. The bulls are stuck around the 20-day exponential moving average at $170. The level at which it corrected after the bears failed to sustain the downtrend at $157. Bears suppress price action at the 20-day EMA and have strengthened the pullback from $169 to $167.  The LTC Relative Strength Index has been hovering between the overbought and neutral zones since the beginning of the day. Overall, the Litecoin chart is in bearish momentum, and has been since the beginning of the weekend. The first major support is at the 200-day exponential moving average at 166. Buyers are trying to consolidate support to avoid a breakout that could lead to a downward correction to the $165 level.

Litecoin price movement in the last 24 hours:

In the 24-hour technical analysis, the MACD remained in bearish territory for most of the day after breaking through the 0 mark in the early morning. The 50-day simple moving average is on the upside just above the current price, and the 100-day SMA is acting as temporary resistance on the hourly chart. The opening price for the day is $170. Thanks to an early uptrend line, LTC hit an intraday high of $172, but then dropped below $173 and headed toward $169. This reversal extended the bearish continuation to the intraday low of $167.08. This is a good performance after yesterday’s low of $157, after which the bulls were able to regain control and push the price up to $169 at yesterday’s close. Source: TradingView

Litecoin price chart at 4 hours : General bearish action

All 8 major technical indicators on the 4-hour chart point to a bearish movement. The RSI is in the buy zone at $39. Most indicators are in neutral territory. At the time of writing, LTC is trading at $167 and has seen several green candles in the price analysis.

Litecoin Price Analysis Number: What can you expect?

The current price level is bumping up against the first major active resistance at $171. The first support is at the $166 level. The bulls need support from the broader market to break through the $166 level and past $171 resistance. This results in a price level of $174, which is also the FIB expansion level of $62. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Lightning Network is a layer-2 protocol enabling fast transaction between nodes on the same network using the technology of off-chain transactions. It is a decentralized payment network, with network participants acting as peer-to-peer lenders, enabling instant and irreversible payments between them. The network is part of a second layer on the Bitcoin network.. Read more about rlc/btc tradingview and let us know what you think.

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