Litecoin (LTC) Price Stuck Near $129, Displaying Bearish Preference
- Litecoin price outlook flashes bearishness today.
- LTC/USD’s support is at $125.8.
- Litecoin has its resistance at $131.8.
Litecoin’s price outlook shows the price actions oscillating near the range at $129 as bulls fail to break past the mark. Meanwhile, bears reject upward movements at $130 in today’s early trading sessions as bulls attempted an overnight lead. With that, Litecoin saw downward moves within the past eight hours. For now, analysts anticipate further declines as the global markets show a bearish inclination.
LTC/USD 24Hr Price Chart – A Sudden Fall at $130
The one-day price analysis for LTC displays favorable conditions for Litecoin sellers as the coin noted slight plummets. Bullish momentum started gaining stability as bulls tried to maintain their lead. However, bears appear to attack now, and the price observed a sudden fall, dropping to $129.4. The Moving Average value stands at $139 still.
Meanwhile, bears have dominated the marketplace for the last few weeks, and they seem to restore their position. Bollinger Bands highlights value changes as the topside band touches $167 amid surged volatility, as the lower limit band represents LTC support at $127. The Relative Strength Index presents a neutral score of 44.98.
Latest Developments and More Technical Indications
The four-hour chart for LTC indicates the price has decreased within the last few hours, following the overnight recovery. The marketplace saw a bearish shock as selling pressure surged again, the previous four hours proving bearish favoritism. With that, Litecoin’s value noted value decrease. For now, the alt touches the level at 4129.3, lower than the MA at $130.8.
The volatility decrease indicates downswings for LTC’s price during upcoming hours. The Bollinger bands seem repositioned also. The top Bollinger band stands at $137, while the lower one wavered around the $127 level. The Relative Strength Index curve has dropped over the last few hours, hitting index 38.
Final Thought
LTC price indicates bullish recovery switching to negative as Litecoin bears struggle for the lead once more. The alt’s overall trend remains bearish, and further downsides might emerge in the upcoming hours. Meanwhile, the support at the coin’s current level of $129 proves dependable at the moment. Litecoin’s price function will float around its current zone if this footing persists.
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