Litecoin Price Update: LTC Approaches Key Support Level of $77 Following 9% Decline
Price Correction and Support Levels: Litecoin has experienced a 9% price drop, currently testing the critical support level of $77.19 after failing to break resistance at $84.63.
Bearish Indicators: Technical indicators such as the RSI and MACD suggest increasing bearish momentum, with the RSI reading at 37 indicating heightened selling pressure.
Strong Transaction Activity: Despite the price decline, Litecoin's average transaction value has risen to over $86,800, surpassing both Bitcoin and Ethereum, indicating robust network activity.
Potential for Recovery: If Litecoin can maintain or increase its transaction volume, it may support a recovery once the current price correction concludes.
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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 5 technical signals, shows that 2 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 stock.
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 | 24.963 | 35.016 | 46.363 | 56.416 | 67.763 | 77.816 | 89.163 |
| Fibonacci | 35.016 | 43.191 | 48.242 | 56.416 | 64.591 | 69.642 | 77.816 |
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