- LTC performed with negative momentum on Tuesday’s trading session
- Litecoin price is $170.35, which is down by 20.85% in the past 24-hour time-frame and 19.46% down from the previous week
- LTC/BTC pair is negative with a loss of 5.20% in Tuesday’s trading session (0.003649)
Litecoin had negative momentum on the weekly chart, and it went up to $245.96 on February 20, 2021, while breaking over the resistance zones made in the past, whereas, Litecoin price set a record of a 52-week high a few hours ago. Meanwhile, the trading volume of $11,088,493,500 in the last 24-hour time-frame represents an increase in the value of 67.99%. Furthermore, the LTC/ETH pair is negative with a value of (0.11680) that is down by 0.23% in Tuesday’s trading session.
Litecoin Technical Chart Indicates a Negative Momentum
The technical graph of Litecoin highlights a negative trend. Meanwhile, Litecoin price is at $170.35. In accordance with pivot points, the critical support level for LTC is placed at $156.55. Whereas if it goes up, the important resistance level to observe is $223.40. While diving into the weekly graph of 4-hour time-frame, it completes a bearish engulfing candlestick pattern, suggesting that the bears have overwhelmed the bulls and are now in control.
Volume index with the sum (288.843K) reveals a selling volume. Investors may further anticipate an increase in selling quantity in future trading sessions.
SMA-200, price is currently at $170.60, which acts as another dependable support from the coin. The cost is testing the SMA, and investors can expect a bearish trend in the coin if it slips below..
MACD index (BEARISH), bearish crossover over signal line seen on February 23, 2021, suggested a sell signal in the coin throughout the trading session. It denotes massive red bars on Histogram.
Meanwhile, the RSI index (OVERSOLD) using a value of 24.85 indicates a sell signal in the coin. One can observe an increase in value in upcoming trading sessions.
Conclusion
Litecoin price is down by 20.85% on Tuesday’s trading session moreover the price is testing the SMA of $170.60, and investors may expect the movement of price towards the support level of $156.55. All technical indicators urge a sell signal in the coin.
Resistance: $223.40
Support: $156.55