Litecoin (LTC) Trades with a Better Price Amongst the Bearish Sentiment of the Crypto Market

Litecoin price has notably traced its trading below $75 since past three days now except a major spike yesterday at $74.99. But there has been a commendable increase in the 24-hour volume yesterday which slid today with a layover in the slight bearish zone. 

The $80 price area remains the major resistance for the LTC coin to trade and fetch profits over recovery. But Litecoin has not fallen tremendously and this remains a powerful booster of the coin with $70 serving as the major support area.

Litecoin to USD Price Chart by TradingView:

The below price chart is a data feed taken from Coinbase as on 27th August at 12:11 UTC.

Litecoin Price Chart
Litecoin Price Chart by TradingView

Litecoin price in the past 24 hours is trading in between the upper range and the lower range from $74 to $72 ranked amongst the top 5 coins in the crypto market. The current trading price of $72.48 is 2.85% lower than the highest of the said time frame. 

But the slight bearish sentiment has hit the LTC coin to trade below its short-term moving averages and even the 5-day EMA ($73.19). If the coin falls even further, it is ought to face the support at $70 below which the investors are going to have a loss-making phase and the only choice that remains is to stay put with their investments. Therefore, it is better that they first check Litecoin Predictions before investing in this coin to earn huge returns.

However, the volatility at present is quite high and the coin will have a subtle move once it gets directional trading.

The 5-day SMA and the 5-day EMA stays around $73 which leaves the Litecoin the strong selling zone. 

The MACD appears to have a bearish crossover on the negative side below zero with its RSI near to 40. 

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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