- Litecoin token is trading below its all vital moving averages of 20, 50. 100 and 200-day lines, with lower volume activity.
- The crypto asset over the monthly chart is trading on a bearish note but recently trying to recover by forming dragonfly candles.
- The pair of LTC/BTC is trading at 0.003499 BTC with a 24-hour loss of -1.65%, and the ratio of LTC/ETH is CMP at 0.05055 ETH with an intraday dip of -2.77%.
Litecoin token over the monthly chart is trading under the strong bearish trend, whereas the crypto asset dropped below all major DMA lines. Presently, the coin is sustaining below all major moving averages of 20, 50, 100, and 200-Day lines, with no sign of solid reversal. At the same time, the short-term and the long-term moving averages overlap each other, with no sign of clear momentum. Volume over the monthly chart is lower, which falls below its average line and needs to grow strongly for a sustainable recovery in upcoming trading sessions. If the bulls sustain above its vital DMA line of 100 and 200-DMA, with supportive volume action. Support on the lower side is $140 and $128, whereas resistance on the higher side is $171 and $190.
Litecoin token is now trying to recover after a gradual decline
Litecoin token at the weekly chart is now trying to recover after a gradual decline from the higher levels. Meanwhile, the technical parameters are still projecting sideways or the consolidation phase of the crypto asset. Volume activity over the 4-hour time frame has increased and needs to grow strongly for good reversal. LTC token is trading at $151 with a flat intraday momentum of -0.19%, and the volume to market cap ratio is at 0.3149.
Relative Strength Index (NEUTRAL): Litecoin token RSI is trading flat over the weekly chart. In contrast, the RSI tries to move higher after testing the oversold zone and CMP at 45.
Moving Average Convergence Divergence (NEUTRAL): The daily chart indicates a neutral trend at the 4-hour time frame. At the same time, the buyer’s signal line (green) and the seller’s line (red); are overlapping each other.
Support levels: $140 and $128
Resistance levels: $171 and $190.