• Litecoin is hovering above $90.00, the recovery is limited.
  • Critical support lies with $80.00.

Litecoin, currently the 6th largest coin with the current market value of $5.6 billion is changing hands at $90.20, off the Sunday's high $97.17. LTC has lost 2.6% since this time on Sunday and over 4% from the beginning of the day moving in sync with the cryptocurrency market.

Litecoin's technical picture

On the intraday charts, the coin needs to clear the local resistance created by SMA100 1-hour and SMA50 4-hour at $91.30. A sustainable move above this handle will open up the way towards the next bullish aim of $95.00 (intraday high). Once it is cleared, the upside is likely to gain traction towards $97.00 with the above-mentioned Sunday's high marginally above this barrier.

On the downside, the initial support is created by psychological $90.00, strengthened by 23.6% Fibo retracement. It is followed by $84.30 with a strong confluence of technical indicators, including SMA100 4-hour and 38.3% Fibo retracement. Once below, the increased sell-off pressure will take the price towards critical $80.00 where new buyers are likely to appear.

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. 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

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD: Sellers continue to lurk above $11,800, $12K still on cards?

Bitcoin consolidates the rebound on Sunday before the next leg higher. A test of $12K mark remains inevitable amid a potential symmetrical triangle. Upside remains more compelling, in light of a bunch of healthy support levels.

More Bitcoin News

LINK/USD consolidates the 52% surge to record highs of $13.66

Massive short-squeeze sent ChainLink skyrocketing on Saturday. The explosion higher lifted LINK/USD to the sixth most dominant crypto asset. Bulls take a breather after the extensive rally, what’ next?

More Cryptocurrencies News

ETC/USD storms towards $7.20 after symmetrical triangle breakout

The pullback in Ethereum Classic (ETC/USD) from $6.8844 appears to have gathered steam this Sunday, as the coin sees a rapid rise to the intraday highs above $7.15. The coin charts symmetrical triangle breakout on hourly sticks.

More Ethereum Classic News

Top 3 Price Prediction BTC, ETH, XRP: Crypto bears dominate, Ripple breaches $0.29

Ethereum is the main laggard among the top three cryptocurrencies on Sunday. Ripple breaches $0.2900 after rejection just below $0.30. Bitcoin continues to keep its range below the critical barrier at $11,817,

More Ripple News


Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast