Past Performance of Litecoin
Litecoin prices are higher when writing but remain under pressure. As an illustration, the coin is within the bear bar of April 26, and trading volumes are low. At the same time, prices are anchored by the bear bar of April 19 that continues to shape the current formation. Support lies at around 85 while resistance is at
95
, or April 16 highs.
#Litecoin Technical Analysis
Sellers are in charge of a 54% surge from mid-March 2023. For now, LTC is down 14% from April peaks, and more could be on the horizon. Notably, the coin is in range inside a tight
10
zone. Because of this, price action suggests that sellers are in control, provided prices are below $95. Meanwhile, a clean breakout below
85
will confirm losses of April 19. The emerging trend would shape the short-term trend as LTC would likely flash crash to
70
in a retest.
What to Expect from #LTC?
The present consolidation validates the downtrend since buyers are yet to reverse losses of the second half of April. As prices move sideways, the odds of the coin dipping below 85 is amplified.
Resistance level to watch out for:
95
Support level to watch out for: 85
Disclaimer: Opinions expressed are not investment advice. Do your research.
Litecoin prices are higher when writing but remain under pressure. As an illustration, the coin is within the bear bar of April 26, and trading volumes are low. At the same time, prices are anchored by the bear bar of April 19 that continues to shape the current formation. Support lies at around 85 while resistance is at
95
, or April 16 highs. #Litecoin Technical Analysis
Sellers are in charge of a 54% surge from mid-March 2023. For now, LTC is down 14% from April peaks, and more could be on the horizon. Notably, the coin is in range inside a tight
10
zone. Because of this, price action suggests that sellers are in control, provided prices are below $95. Meanwhile, a clean breakout below
85
will confirm losses of April 19. The emerging trend would shape the short-term trend as LTC would likely flash crash to
70
in a retest. What to Expect from #LTC?
The present consolidation validates the downtrend since buyers are yet to reverse losses of the second half of April. As prices move sideways, the odds of the coin dipping below 85 is amplified.
Resistance level to watch out for:
95
Support level to watch out for: 85
Disclaimer: Opinions expressed are not investment advice. Do your research.
