• Litecoin price is down 5% since the beginning of October.
  • The bears show several bearish cues hinting at their control of the trend.
  • Invalidation of the bearish thesis is a breach above $53.50.

Litecoin price shows multiple reasons to believe in a further downtrend. Key levels have been defined. 

Litecoin price points south

Litecoin price is down 5% on the month as the bulls are trying to maintain their position above the $0.50 barrier. A bearish death cross of the 8-day exponential and 21-day simple moving averages has been spotted in the last 24 hours, which spells a troublesome trajectory for Litecoin in the coming days.

Litecoin price currently auctions at $52.17. The largest candlestick within the current trading range belongs to the bears. The Volume Profile Indicator lacks evidence to believe that a strong retaliation from the bulls will occur. If market conditions persist, a sweep-the-lows event targeting the $48 liquidity level established in July is a potential bearish target.

tm/ltc12/22

LTC/USDT 1-Day Chart

A spike through the overlapping moving averages at $53.50 could invalidate the bearish outlook. The September highs at $64 could be challenged if the bulls break through the barrier once more. The said price action would result in a 25% increase from the current Litecoin price

In the following video, our analysts deep dive into the price action of Litecoin, analyzing key levels of interest in the market. -FXStreet Team

 


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. The author will not be held responsible for information that is found at the end of links posted on this page.

Recommended content


Recommended Content

Editors’ Picks

Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K

Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K

Cardano (ADA) price hovers around $0.54 on Monday, after falling nearly 15% last week, as tensions in the Middle East escalated following the US attack on Iran. This double-digit correction triggered a wave of liquidation, wiping out a total of nearly $17 million in long positions last week.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) declined by nearly 5%, 13%, and 7%, respectively, last week as tensions in the Middle East escalated. BTC is nearly at its key support level of around $100,000; a close below this level would trigger further correction.

Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000

Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000

The broader cryptocurrency market experiences a surge in selling pressure as Bitcoin (BTC) dips close to $100,000 at press time on Monday. Against this backdrop, the majority of top altcoins trade in the red while OKB (OKB), Story (IP), and Hyperliquid (HYPE) hold bullish momentum. 

Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Altcoin exchange-traded funds (ETFs) received a boost in approval odds on Friday from Bloomberg analysts James Seyffart and Eric Balchunas, with most of them now having a 90% chance of approval.

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP