• LTC/USD resumed the downside amid glopbal crypto sell-off.
  • The critical support is created by $30.00 handle.

Litecoin is down over 6% in recent 24 hours, trading at $32.4 at the time of writing. The 7th largest digital coin with market value $1.9B has been declining steadily since the beginning of the month in sync with onther altcoins. Litecoin has lost over 43$ from the recent peak reached at $56.55 on November 7.

On the intraday charts, LTC/USD is capped by $35.00 resistance zone. This psychological leve stopped the recovery earlier this weak, creating a formidable barrier for short-term Litecoin bulls. Once it is cleared, the recovery may be extended towards $36.00 with the sloping short-term trendline on approach, and to DMA5 (now at $37.54). 

The Relative Strength Index (RSI) and momentum indicators are starting to reverse, however, this signal needs to be confirmed by price dynamics.  A sustainable movement above critical $40.00 is likely to mitigate immediate bearish pressure. However, we need to pass $50.00 and $50.56 (DMA50) to get a chance for an extended reversal.

On the downside, the Asian low of $30.55 may slow down the sell-off ahead of critical $30.00. This area may attract speculative buyrs, though if it is cleared, the price will enter an uncharted territory with the potential to drop to $25.00, the lowest level since June 2017.

LTC/USD, 4-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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD confluence detector shows lack of resistance and support levels

The hourly BTC/USD price chart shows us that the price dropped from $10,130 to $9,815 this Thursday. The bulls then gathered momentum before it picked up to $10,190, meeting resistance.

More Bitcoin News

Crypto market update: Bulls march back into the market after two straight days of bearish domination

Following two straight bearish sessions, the bulls roared back violently. Ethereum Classic and IOTA records double-digit profits after massively bullish day. Stellar is the only coin among ...

More Cryptocurrencies News

Ethereum Classic technical analysis: ETC/USD went up by 17.58% this Thursday

Ethereum Classic has strung together three bullish days in a row. This Thursday has been extremely bullish, wherein the price has gone up from $6.15 to $7.22 this Thursday. 

More Ethereum Classic News

LTC/BTC: Litecoin finally finds some support but how long will it last?

BTC/LTC has moved higher on the 30-min timeframe and is now in a retracement phase. The price has stopped just before the 38.2% Fibonacci level and the 0.0072 support zone.

More Litecoin News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast