- LTC coin price chart shows the 100 EMA and 200 EMA are on the verge of giving a bearish crossover
- The LTC/BTC pair was trading at 0.004028 BTC with a loss of 1.28%
- The 24 hr trading volume in LTC coins is $1.54 billion
The LTC coin shows a formation of a falling wedge pattern in the daily time frame. The pattern shows high reliability as the price has already respected its level multiple times, providing an excellent opportunity for LTC traders once the price gives a breakout from the overhead resistance. The current price of the LTC coin is $131, with an intraday loss of 1.82%.
The EMA line indicates the LTC coin is in a strong bearish trend as the price is trading below all the critical EMA 20,50,100. In which the 20 EMA is providing excellent dynamic resistance to the price. Moreover, the chart also shows that 100 and 200 EMA are on the verge of giving a bearish crossover, luring more sellers into the market.
The RSI (BEARISH) value is at 39, indicating a bearish sentiment in the coin.
LTC Coin Crypto Chart In The 4hr Time Frame
LTC coin price is currently dwelling near the resistance trendline of the falling wedge pattern, and if it intends to follow the pattern, the price showed reverse from the resistance trendline and plunged to the support one. However, the closest barrier for the price has to face before reaching the support trendline is the $130 mark. The price has already bounced several times from this support, and therefore it can be used as great confirmation for a reversal trade if the price gives a breakdown from this level.
The MACD indicator (NEUTRAL) shows both the MACD line and the signal line are wobbling around the neutral zone(0.00), giving multiple crossovers. In addition, the histogram also offers a constant switch between the green and red bars; thus, currently indicating unclear emotion in the market.
Conclusion: From the technical perspective, the chart shows an overall bearish trend as long as the price respects the falling wedge pattern. However, until the pattern is intact, traders can grab some excellent opportunities of reversal traders inside it.
Support– $130, $117
Resistance– $150
