{"id":14320,"date":"2022-12-19T05:53:47","date_gmt":"2022-12-19T09:53:47","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14320"},"modified":"2022-12-19T05:53:47","modified_gmt":"2022-12-19T09:53:47","slug":"litecoin-price-bleeds-why-the-bulls-could-stay-on-sidelines","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/19\/litecoin-price-bleeds-why-the-bulls-could-stay-on-sidelines\/","title":{"rendered":"Litecoin Price Bleeds, Why The Bulls Could Stay On Sidelines"},"content":{"rendered":"

Litecoin price started a fresh decline from the $80 resistance against the US Dollar. LTC is struggling and remains at a risk of more losses towards the $55 support.<\/em><\/p>\n

Litecoin started a fresh decline from the $85 resistance against the US Dollar.
\nThe price is now trading below $70 and the 100 simple moving average (4-hours).
\nThere was a break below a key contracting triangle with support near $75.00 on the 4-hours chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could continue to move down towards $55 in the near term.<\/p>\n

Litecoin Price Turns Red<\/h2>\n

This past month, litecoin price saw a strong increase above the $70 level against the US Dollar. LTC price was able to clear the $80 resistance level, outperforming both bitcoin<\/a> and ethereum<\/a>.<\/p>\n

However, the bears remained active near the $85 zone. There was a topping pattern formed near the $85 level before the price started a fresh decline. There was a clear move below the $80 and $78 support levels. Besides, there was a break below a key contracting triangle with support near $75.00 on the 4-hours chart of the LTC\/USD pair.<\/p>\n

Litecoin price is now trading below $70 and the 100 simple moving average (4-hours). A low is formed near $61.67 and the price is now consolidating losses.<\/p>\n

On the upside, an immediate resistance is near the $66.00 level. It is near 23.6% Fib retracement level of the recent decline from the $79.80 swing high to $61.67 low. The first major resistance is near the $70.00 level.<\/p>\n

<\/a><\/p>\n

Source: LTCUSD on TradingView.com<\/a><\/p>\n

The 50% Fib retracement level of the recent decline from the $79.80 swing high to $61.67 low is also near $70. If there is a clear break above the $70 resistance, the price could start a strong increase. In the stated case, the price is likely to continue higher towards the $75 and $78 levels. Any more gains might send ltc price towards the $80 resistance zone.<\/p>\n

More Losses in LTC?<\/h2>\n

If Litecoin price fails to clear the $70.00 resistance level, there could be more losses. An initial support on the downside is near the $61.60 level.<\/p>\n

The first major support is forming near the $60.00 level. Any further losses may perhaps send the price towards the $55.00 support in the coming sessions.<\/p>\n

Technical indicators:<\/p>\n

4-hours MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is below the 50 level.<\/p>\n

Major Support Levels \u2013 $60.00 followed by $55.00.<\/p>\n

Major Resistance Levels \u2013 $70.00 and $75.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Litecoin price started a fresh decline from the $80 resistance against the US Dollar. LTC is struggling and remains at a risk of more losses towards the $55 support.<\/em><\/p>\n

Litecoin started a fresh decline from the $85 resistance against the US Dollar.
\nThe price is now trading below $70 and the 100 simple moving average (4-hours).
\nThere was a break below a key contracting triangle with support near $75.00 on the 4-hours chart of the LTC\/USD pair (data feed from Kraken).
\nThe price could continue to move down towards $55 in the near term.<\/p>\n

Litecoin Price Turns Red<\/h2>\n

This past month, litecoin price saw a strong increase above the $70 level against the US Dollar. LTC price was able to clear the $80 resistance level, outperforming both bitcoin<\/a> and ethereum<\/a>.<\/p>\n

However, the bears remained active near the $85 zone. There was a topping pattern formed near the $85 level before the price started a fresh decline. There was a clear move below the $80 and $78 support levels. Besides, there was a break below a key contracting triangle with support near $75.00 on the 4-hours chart of the LTC\/USD pair.<\/p>\n

Litecoin price is now trading below $70 and the 100 simple moving average (4-hours). A low is formed near $61.67 and the price is now consolidating losses.<\/p>\n

On the upside, an immediate resistance is near the $66.00 level. It is near 23.6% Fib retracement level of the recent decline from the $79.80 swing high to $61.67 low. The first major resistance is near the $70.00 level.<\/p>\n

<\/a><\/p>\n

Source: LTCUSD on TradingView.com<\/a><\/p>\n

The 50% Fib retracement level of the recent decline from the $79.80 swing high to $61.67 low is also near $70. If there is a clear break above the $70 resistance, the price could start a strong increase. In the stated case, the price is likely to continue higher towards the $75 and $78 levels. Any more gains might send ltc price towards the $80 resistance zone.<\/p>\n

More Losses in LTC?<\/h2>\n

If Litecoin price fails to clear the $70.00 resistance level, there could be more losses. An initial support on the downside is near the $61.60 level.<\/p>\n

The first major support is forming near the $60.00 level. Any further losses may perhaps send the price towards the $55.00 support in the coming sessions.<\/p>\n

Technical indicators:<\/p>\n

4-hours MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n

4-hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is below the 50 level.<\/p>\n

Major Support Levels \u2013 $60.00 followed by $55.00.<\/p>\n

Major Resistance Levels \u2013 $70.00 and $75.00.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-14320","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=14320"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14320\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14320"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}