Litecoin’s rising trend falls below the major psychological support of $75 as it trades at $74.55. The red candlestick breakdown has led the coin to gradually slide below $80 and $75.
Litecoin Price Analysis
Analyzing the hourly LTC/USD movement on Coinbase, we see that the coin had temporarily hit bottom at $66.06 after marking a fresh 90-day high at $84.44 in the second week of the ongoing month. The downtrend has been in action after the price of Litecoin mounted at a new high. The 20-day Bollinger Bands laid show moderate volatility in the upcoming days with gradual support from 200-day daily MA.
Alongside, Bitcoin is also trading below $10,000 for the 6th day in the row, but there happened to be a momentary bullish breakout before yesterday’s close, which apparently was not enough to have a persistent trade.
Technical Indicators
The technical indicator assigned exhibit bearish crossover due to intraday correction and a red candle breakout as the signal line cuts above the MACD line of Litecoin.
While the RSI of LTC is at 47.16 and withholds no trading extremities at present.