• Litecoin settles under $76.00 amid strong sell-off. 
  • LTC/USD has lost 5% in recent 24 hours. 

Litecoin has been sliding for the third day in a row. LTC/USD touched $73.70 low on Sunday before recovering to $76.00 by the time of writing. The 6th largest digital coin with the current market value has lost nearly 9% since Friday, April 19 amid massive sell-off triggered mostly by technical factors. 

Litecoin’s technical picture 

LTC/USD is supported by $75.00 handle with 61.8% Fibo retracement from the recent upside movement on approach. Once this barrier is out of the way, the sell-off may be extended towards SMA200 (4-hour) at $74.00 and the recent low of $73.70. The next support lies with  psychological $70.00, which is followed by 69.00-68.80 (DMA50) and  $63.17 (SMA50 weekly). 

On the upside, a sustainable move above psychological $80.00 is needed to mitigate the bearish pressure. Once it is cleared, the recovery may be extended towards $83.00 closely followed by SMA100 (4-hour). Even more important resistance is created by 38.2% Fibo retracement at $84.40. 

LTC/USD, 4H 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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Google, Apple could remove Binance from their app store on Philippines SEC request

Google, Apple could remove Binance from their app store on Philippines SEC request

The Philippines SEC has requested Google and Apple to remove applications controlled by Binance from their App stores. The exchange’s Philippines-based users are finding the exchange inaccessible to remove their funds. 

More Binance News

XRP rallies as Ripple slams SEC for penalties, asks regulator to establish likelihood of future violations

XRP rallies as Ripple slams SEC for penalties, asks regulator to establish likelihood of future violations

Ripple filed its response to the SEC lawsuit on Monday, arguing that XRP institutional sales before and after the court ruling show no disregard for the law. The firm asks for a civil penalty of no more than $10 million against the $2 billion requested by the SEC.

More Ripple News

Here’s why Ondo price hit new ATH amid bearish market outlook Premium

Here’s why Ondo price hit new ATH amid bearish market outlook

Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.

More Cryptocurrencies News

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

Pendle price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin (BTC) price.

More Cryptocurrencies News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP