Litecoin Price Falls Below Key Support Level
- Support Break: Litecoin's price has fallen below the critical $50 support level, reaching a four-year low of $41.85 during the selloff, reflecting a significant deterioration in market sentiment with a 4.40% drop in the last 24 hours.
- Technical Warning: Analysts highlight that Litecoin is currently in the $43 to $30 range, and a further decline of about $3 could lead to a six-year low, indicating that this technical breakdown may trigger additional market volatility.
- New Accumulation Zone: Crypto Patel has identified a new accumulation range between $43 and $30, suggesting that this area may attract investors looking for long-term opportunities, despite the prevailing uncertainty in the broader market.
- Long-Term Outlook: While short-term momentum remains weak, analysts continue to focus on Litecoin's long-term price targets of $100, $300, and $500, contingent upon future market conditions and recovery trends.
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Technical Analysis for LTC
Technical Sentiment Analysis for Litecoin (LTC). As of , Litecoin (LTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for LTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, LTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Litecoin (LTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 27.562 | 34.041 | 39.802 | 46.281 | 52.042 | 58.521 | 64.282 |
| Fibonacci | 34.041 | 38.717 | 41.605 | 46.281 | 50.957 | 53.845 | 58.521 |
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