The first significant resistance is situated at $62. Any additional increases

LITECOIN PRICE ANALYSIS : LTC is under intense selling pressure. as the cryptocurrency market is in the red
Litecoin price analysis shows that the bears have bled out more than 14 percent of the asset's price movement, and the sell-off shows no signs of easing anytime soon.
 The overall digital asset marketplace is in a bloodbath, with most altcoins falling with the major currencies Bitcoin and Ethereum. Litecoin is currently trading at $59.50, despite starting the session at $60.16.

The bears currently control the LTC market, and if price stays below $60.00, a further decline towards $54.00 may happen soon. On the other hand, if the bulls can push prices over $64.00, we may expect some upward trend towards $70.00 levels. The digital asset market is in free fall, and it appears that prices will continue to decrease in the near term. The market volatility is extremely high due to the stretching of the Bollinger bands.

Litecoin price analysis on a 4-hour price chart shows a declining market sentiment that appears to be reinforced by rising selling pressure. The bulls are not able to defend their current major support levels of $58.00.

The LTC/USD pair is extremely bearish, and it appears that prices will soon go below $50.00. The RSI indicator is currently extremely close to oversold territory, indicating that the market may experience some consolidation soon. The MACD indicator is highly bearish since the signal line is above the MACD line, suggesting that the path of least resistance is downward.

The market capitalization of LTC is estimated to be $4,248,170,912. The 24-hour trading volume for the same coin is around $657,569,902. LTC market capitalization has risen by 0.49%. However, trade volume decreased by 34.00% during intraday trading. The market capitalization to volume ratio is 0.1557.

 

The first significant resistance is situated at $62. Any additional increases might bring the price up to $65. Above $65, the price may shortly reach $68.

If LTC fails to break through the significant resistance level of $62, the price may continue to decline below $58. If it fails to maintain this level, panic selling will occur up to the $56 level.

KEY LEVELS :

RESISTANCE LEVEL : $61-$64

SUPPORT LEVEL : $58-$56
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