• LTC/USD needs to recover above $70.00 to resume the recovery.
  • The strong short-term support is created on approach to $68.50.

Litecoin has resumed the decline and reached an intraday low at $68.41. The fifth-largest digital asset with the current market value of $4.3 has been losing ground both on a day-on-day basis and since the beginning of the day. At the time of writing, LTC/USD is changing hands at $68.92, down 2.5% in recent 24 hours.

Litecoin’s technical picture

A sustainable move below $70.00 has darkened the technical picture. The next critical support is created by the lower line of one-hour Bollinger Band and SMA200 (Simple Moving Average) and the middle line of one-day Bollinger Band on approach to $68.50. If it is cleared the sell-off may be extended towards psychological $68.00 closely followed by SMA100 four-hour. The next support awaits LTC on approach to $64.66 (the lowest level since September 7).

On the upside, we will need to see a recovery above $70.00 to improve the technical picture and get Litecoin back on the recovery track. However, this area is strengthened by SMA100 and SMA50 on the one-hour chart. Once it is out of the way, the upside is likely to gain traction with the next focus on $72.00 (the upper line of four-hour Bollinger Band) and $72.70 (SMA200 four-hour).

LTC/USD, one-hour chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin may surpass $9,000 as early as this weekend

Bitcoin bulls hit a brick wall on the approach to $9,000. The first digital coin settled at $8,960 after several unsuccessful attempts to pass this barrier.  At the time of writing, BTC/USD is up 2.5% since the beginning of the day.

More Bitcoin News

Bitcoin closes in on $9,000, IOTA and Ethereum Classic bulls unstoppable

Sounds of happiness and cheer fill the cryptocurrency space on Friday following an impressive turnaround from the drab start during the Asian session, to incredible upward movement in the European session. 

More Cryptocurrencies News

DASH has low chance to be classified as a security

DASH, now the 13th largest digital asset with the current market value of $1.15 billion, topped at $144.75 on January 15 and retreated to $124.00 by the time of writing.

More Dash News

Ethereum Price Analysis: ETH/USD bulls in tactical retreat after a failure at $170.00

Ethereum, the second-largest digital asset with the current market value of $18 billion, has been gaining ground after a short-lived retreat on Thursday. The coin has gained over 3% on a day-to-day basis and 2.8% since the beginning of Friday. 

More Ethereum News


Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast