- Litecoin forms a descending channel as it falls from trading above $60 to currently consolidating around $59
- LTC coin stays bearish after the rejection from the strong resistance around $66
- The past 3 days have been quite an adventure as LTC witnesses enough price movements
After having declined to surpass $65 price level, it tested the support at $62 and then at $60. As it slid below $60 to trade at $58 – marking the lowest in the said time frame of the past 2 days. Litecoin price currently holds downside risks to a major extent and faces a strong selling pressure with it.
Litecoin Price Prediction
As per the intraday movement of LTC/USD on Coinbase, the coin was trading around the immediate support at $60.99 after having hit $61 – the major resistance which was formed then. With a notable plunge and inverse red candle formation, the price of Litecoin bottomed at $58.27, yesterday. However, it continued to trade around the same price for the remaining period until the time of writing. Just prior to penning down, LTC price topped at $60.68, when Bitcoin also traced back at $8,700 to plunge again, though.
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The market has been dealing in red, and it has been quite a disgraceful thing to see the major altcoins like Ethereum and Litecoin marking fresh decreases every time and even deeper than the previous ones. Currently, the most imminent support is around $58, and on the contrary, if there is an upside break, which seems like a mirage at present, but then there will be an S/R flip, and $61 will turn out to be the major resistance.
Technical Indicators
The MACD of LTC is above zero but seems to have a bearish outlook, after MACD and signal line has a meetup.
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The RSI of the coin is at 55.56, showing no extremities at present. As per the technicals and Litecoin price prediction 2030, the coin might record tremendous highs in the upcoming years.
