Tanya Abrosimova
Independent Analyst
- The 6th largest coin is one of the worst-performing coins on Monday.
- LTC/USD needs to clear $71.00 to extend the recovery.
Litecoin (LTC) peaked at $99.47 on April 3 and has been moving down ever since. At the time of writing, the 6th largest digital asset with the current market value of $4.3 billion is changing hands at $69.27, down over 3% on a day-on-day basis. The coin has lost nearly 9% in recent 7 days and over 30% from the above-said peak.
On the intraday charts, the price is moving within a range limited by the recent low of $68.35 on the downside and psychological $70.00 on the upside. If the above-mentioned resistance is cleared, the upside momentum will gain traction with the next focus on $71.00 created by SMA50 (1-hour). It is followed by SMA100 at $71.85. Meanwhile, the critical barrier is created by a confluence of 61.8% Fibo retracement and the sloping trendline from April 3 peak at $75.00.
On the downside, a sustainable move below $68.35 increase the bearish pressure with the next aim at $60.00, followed by DMA100 currently at $56.60.
Considering that the intraday Relative Strength Index has turned downwards, we may suggest that LTC has not exhausted it downside potential as yet.
LTC/USD, 1-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Pi Network rally halts under $0.80 as traders speculate about upcoming ecosystem announcement
Pi Network’s recent price action sends multiple buy signals, but resistance under $0.80 appears to be capping the uptrend. The Pi Network team teases a major announcement on May 14, fueling speculation and trader interest on the coin.
Bitcoin Weekly Forecast: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.
Dogecoin price jump above $0.20 triggers $13 million in liquidations
Dogecoin price edges higher after stepping above $0.20 and climbing to trade around $0.21 at the time of writing on Friday. The leading meme coin's uptrend mirrors a broad-based bullish wave in the market, triggered by the trade agreement between the US and the UK on Thursday.
XRP price could hit $3 on $50M SEC settlement
Ripple and the SEC strike a $50 million settlement agreement pending judicial approval. A joint motion in the US District Court aims to lift Ripple’s injunction and release $125M in escrowed penalties.
Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin (BTC) price is stabilizing around $103,000 at the time of writing on Friday after rallying nearly 10% this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.