Cryptopolitan
2021-09-25 02:48:12

Litecoin price analysis: LTC down to $161, as bears disrupt bullish trend

TL;DR Breakdown Litecoin price analysis is bearish today.Price underwent a significant decrease.Support is present at $148. The Litecoin price analysis is bearish for today. Bears have brought down the price to $161, canceling out yesterday’s gain in value. Traders are entering the market to sell their LTC/USD assets, fearing another price drop. Bears flourished during the last few hours as selling pressure increased in the market, and the bullish trend came to a halt. Though the last two days proved good for the coin, bears successfully took over and reversed the price function, and indications are there for a further decrease in price. The price trendline is downwards from the last week. LTC/USD 1-day price chart: Traders fear a short-term price drop The 1-day price chart for Litecoin price analysis shows bears are pulling the price down and seems successful in their attempts. Price is decreasing gradually as bears continue their lead. The past few hours proved insignificant for the cryptocurrency. The LTC/USD pair traded between the range of $164-$161 today and is trading hands at $161 at the time of writing. LTC/USD 1-day price chart. Source: tradingview The volatility for LTC is comparatively high, and the Bollinger bands movement shows both ends on a downslope with their average line above the price level, which shows price might go down in the coming time. The Relative strength index (RSI) is in the lower h...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.