Litecoin Price Analysis: Litecoin Continues Plunging

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


LTC/USD Key Levels:
Resistance Levels: 286.38, 244.20
Support Levels: 210.73, 189.88

Litecoin reached its highest price this year at $335.35 after which it has continued to fall successively. The price has dropped consecutively for eight days without a pause. It has actively struck the borders of the descending channel on both sides as it plunges.

Litecoin Price Anticipation
Litecoin drove down into a support level at 210.73 on the 26th of April and has bounced higher currently showing a strong bullish candle within the descending channel. The price is currently at a resistance zone at 244.25. It has been consolidating on the four-hour chart between the resistance zone 244.25 and the support zone 210.73

The strength of the previous day support level may push the price to break through the descending channel beyond the resistance zone to aim for $286.38. The price might also just bounce off the 244.25 zone back into the descending channel. Though the current trend is bearish, a breakout and a possible retest of the key zone can be anticipated to change the trend.

Parabolic SAR still maintains an overhead position for Litecoin candles. The Parabolic SAR shows a strong pull for price to keep falling as it rests confidently over the bearish candles on the daily chart on the daily chart. The Parabolic SAR has shown a point under the bullish candles which is a reflection of the bounce of the 211.03 support level on the four-hour chart.
MACD shows continuous crashing. The MACD signal line is pointing down and continuously dropping. The MACD signal line has dropped from 19.63 on the daily chart to 12.52 which is approaching level zero 0, pronouncing a bearish market on the daily chart.

On the four-hour chart, the MACD signal line is already below 0 level showing the bearish run. It slightly points up from below the 0 level reflecting today’s bullishness.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *