• Home
  • Trading
  • Live Data
  • Events
Home Trading Litecoin Price Analysis LTC / USD: Preparing For Hibernation

Shutterstock

Litecoin Price Analysis LTC / USD: Preparing For Hibernation

Litecoin has shifted its dynamic and starts posting lower highs and lows.

-

  • Litecoin has a bearish short-term trading bias, with cryptocurrency appearing increasing weak below its 200-period moving average on the four-hour time frame
  • The four-hour time frame is showing that a bearish head and shoulders pattern has formed
  • The daily time frame highlights that the LTC / USD pair is now making lower highs and lower lows

Litecoin / USD Short-term price analysis

Litecoin has a bearish short-term trading outlook, with the LTC / USD pair appearing increasingly weak below its 200-period moving average on the four-hour time frame.

The four-hour time frame is showing that the recent decline in the cryptocurrency has helped to create a large head and shoulders pattern, with the LTC / USD pair hovering around neckline support.

Technical indicators on the four-hour time frame are bearish and continue to provide a strong sell signal.

SIMETRI Research

 

LTC H4 Chart July 1, powered by Trading View
LTC / USD H4 Chart by TradingView

 

Pattern Watch

Traders should note that the bearish head and shoulders pattern on the four-hour time frame has a downside projection of around $40.00. 

Relative Strength Index

The Relative Strength indicator on the four-hour time frame is bearish and is now trading in oversold territory.

MACD Indicator

The MACD indicator is bearish on the four-hour time frame and continues to generate a clear sell signal.


Litecoin / USD Medium-term price analysis

Litecoin has a bullish medium-term trading bias, with the cryptocurrency still trading well above its trend-defining 200-period moving average.

The daily time frame shows that a technical shift has now occurred, with the cryptocurrency now creating bearish lower highs and lower lows. Key technical support for the LTC / USD pair is currently found at the $100.00 and $84.00 levels.

Technical indicators are turning lower and continue to issue a bearish trading signal on the daily time frame.

 

LTC Daily Chart July 1, powered by Trading View
LTC / USD Daily Chart by TradingView

                                                                                

Pattern Watch

Traders should note that a bearish triple-top pattern formation is also in play on the daily time frame. 

Relative Strength Index

The Relative Strength indicator on the daily time frame is turning lower and continues to generate a bearish trading signal.

MACD Indicator

The MACD indicator is bearish on the daily time frame, with both the MACD signal line and histogram issuing a sell signal.


Conclusion

Litecoin is undergoing technical selling back towards the $100.00 support level, with the bearish pattern on the four-hour time frame pointing to a potential drop towards the $60.00 level.

The dynamics have also shifted on the daily time frame, which may place the LTC / USD pair’s 200-day moving average back in focus over the medium-term.

 

Check out our coin guide for an introduction to Litecoin.

We also wrote a DARE for the project, analyzing the future prospects of the Bitcoin competitor.

 

Litecoin Chart

 

DISCLOSURE

Authors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.

Avatar
The Analyst Team
Crypto Briefing has become known for providing thoughtful and insightful diligence on early-stage blockchain ventures. Our reports are distributed globally, including via Binance Info. Almost 100 free, unpaid, and independent Digital Asset Reports and Evaluations and early-stage crypto assessments are available by clicking on the CB icon, right here.

JOIN OUR COMMUNITY!

Join the conversation on Telegram and Twitter!

8,109FollowersFollow
1,314SubscribersSubscribe

More News & Analysis

Get The Best Of Crypto Briefing!

Crypto news flashes, new DARE research, upcoming mainnet launches, market reports, and much more!

X
X