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Litecoin Price Analysis: LTC/USD drops to levels not seen since December 2018 as bears continue their slaughter

  • LTC/USD crashed from $48.68 to $30.27 this Thursday.
  • The SMA 200 is looking to cross over the SMA 20, to chart the heavily bearish death cross pattern.
Litecoin Price Analysis: LTC/USD drops to levels not seen since December 2018 as bears continue their slaughter
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD daily chart

LTC/USD daily chart

LTC/USD bears continued to stay in control for the seventh consecutive day. This Thursday, LTC/USD crashed from $48.68 to $30.27 and has fallen further to $29 in the early hours of Friday. The last time LTC/USD was trending around this level was back in December 2018. The price is hovering below the green Ichimoku cloud and the SMA 20, SMA 50 and SMA 200 curves. The SMA 200 is looking to cross over the SMA 20, to chart the heavily bearish death cross. The MACD indicates increasing bearish momentum, while the RSI is trending around 20 inside the oversold territory.
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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