- LTC moved decrease yesterday.
- Litecoin reached the earlier low of round $125 in a single day.
- Market prepared to aim one other push decrease.
Litecoin price evaluation is bearish for right this moment because the market set a transparent decrease excessive yesterday and pushed decrease from there. As we speak we noticed a slight rejection for additional draw back round $125, seemingly that means that additional draw back will probably be seen later right this moment as bears regain momentum as of now.
The general crypto market trades within the purple over the past 24 hours. Bitcoin has misplaced 2.3 %, whereas Ethereum 3.2 %. Polkadot (DOT) and Solana (SOL) are among the many worst performers, with a lack of round 6-7 %, indicating the place the remainder of the market may transfer to over the subsequent hours.
Litecoin worth motion within the final 24 hours: Litecoin exams $125 assist once more
LTC/USD traded in a spread of $122.34 – $129.27, indicating an excellent quantity of volatility over the past 24 hours. Buying and selling quantity has remained comparatively flat and nonetheless stands round $1.44 billion. In the meantime, the entire market capitalization trades round $8,3 billion, rating the cryptocurrency in thirteenth place total.
LTC/USD 4-hour chart: LTC prepared to interrupt $120?
On the 4-hour chart, we will see the Litecoin worth beginning to transfer decrease after a quick pause earlier right this moment.
The general market construction has been more and more bearish over the previous week. After a powerful greater excessive was set round $149 on the twenty ninth of June, LTC/USD failed to maneuver greater and set a barely decrease excessive round $148. This worth motion growth indicated a medium-term development reversal and was adopted by a transparent decrease low on the ninth of July.
From there, LTC/USD rallied and set a decrease excessive round $140 earlier than pushing to the draw back once more over the previous few days. One other decrease low was set round $125 on the 14th of July.
Yesterday, the Litecoin worth retested the beforehand set second decrease low round $125 with some rejection for additional draw back. This resulted in a slight rally greater over the previous hours. Nevertheless, proper now, bears look to regain management over the market and begin to push LTC/USD decrease once more, which ought to lead the Litecoin worth in direction of a break beneath the $120 mark and the subsequent main assist round $105 over the subsequent week.
Litecoin Value Evaluation: Conclusion
Litecoin worth evaluation is bearish for the subsequent 24 hours because the market moved decrease yesterday and paused in a single day. Subsequently, we count on LTC/USD to push beneath $120 later right this moment as bears have regained energy.
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