TL;DR Failure

  • Litecoin price analysis shows that Litecoin is struggling to maintain price levels.
  • Support for LTC is available for $100.
  • Resistance is at $107.8.

The latest Litecoin price analysis shows that today's trading session started in a bullish spirit, but then further gains were rejected at the $107.8 level and the price has been falling for the past few hours. The bullish trend seems to be turning bearish as the shorts are currently in the lead and dictating the price action.

With the price back at $105, the bearish trend has done considerable damage to the price value, and if the selling pressure continues, the price could fall further. Instead, support is at $104.6, followed by another support at $100.

LTC/USD 1-day price K-line chart: LTC price drops to $105 after rejection

Daily Litecoin price analysis shows a bullish trend as price levels are still trading in the green despite the current price drop. With prices still above yesterday's price ceiling, earlier an upward wave dominated the market with the bulls in the lead, but now they face strong resistance from the bearish side and the value gain of the token has fallen back to just 0.58% if observed in the last 24 hours.

On the other hand, there is still a chance that the price trend will change again in favor of buyers. At the time of writing, the value of the coin has dropped to the $105 mark. The price is still above its moving average (MA) value of $102.80.

LTC/USD 1-day price K-line chart. Source: tradingview

As the Bollinger bands converged to February 10, LTC volatility fell, with the volatility indicator having an upper limit of $114, representing resistance in the token price function, and a lower limit of $97.3, representing support for LTC.

The Relative Strength Index (RSI) is at 45 in the lower half of the neutral zone. The slope of the RSI is still up, indicating relatively high buying activity today.

LTC/USD 4-hour analysis: recent developments and further technical indicators

Four hours of Litecoin price analysis confirms the above, as the bullish trend has been rejected by the shorts. The price has fallen in the last eight hours. Meanwhile, the continued presence of red candlesticks indicates a fall in the value of the cryptocurrency. The bearish momentum has brought the price down to the $105 mark, but if the $104 support level persists, the bulls may challenge the shorts. Meanwhile, the moving average in the four-hour price K chart is located below the price level at $104.9.

LTC/USD 4-hour price K-line chart. Source: Tradingview

Volatility on the 4-hour chart is moderate as the volatility indicator shows its upper limit at $108.8, representing resistance for LTC, which has a lower limit at the $100.2 mark. The RSI is trading at index 52 with a downward slope, but the steepness of the curve is not significant as price volatility has slowed recently, suggesting competition from the opposite side.

Litecoin Price Analysis: Conclusion

A four-hour-a-day Litecoin price analysis predicts that the cryptocurrency's uptrend is now turning into a downtrend as sales activity increases. Short sellers have managed to turn things around by dropping the coin's value to $105. The hourly price K-chart shows green candlesticks as the market value of LTC / USD keeps falling and intraday traders should now look for support at $104.6, and if it sticks, then the token's price could slip into the $100 range.

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