{"id":530463,"date":"2023-05-08T14:00:01","date_gmt":"2023-05-08T14:00:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=530463"},"modified":"2023-05-08T14:00:03","modified_gmt":"2023-05-08T14:00:03","slug":"litecoin-ltc-price-falls-after-bulls-fail-to-maintain-momentum","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/litecoin\/litecoin-ltc-price-falls-after-bulls-fail-to-maintain-momentum\/","title":{"rendered":"Litecoin (LTC) Price Falls After Bulls Fail To Maintain Momentum"},"content":{"rendered":"

Litecoin is shedding its gains in the market today as the bears take control of its price. At press time, its trading volume is down by over 15%, with a price decrease of 2.80% in the last 24 hours. Such a decline comes after major crypto assets like Bitcoin and Ethereum took a blow and entered bearish territory.<\/span><\/p>\n

After its decline from $101.85 to $90.44 on April 19, 2023, the bears mounted more pressure pushing its price down to $81.11.\u00a0<\/span><\/p>\n

What Next For Litecoin?<\/h2>\n

LTC is in a downtrend today, forming a bearish engulfing pattern on the daily charts as it descends to lower lows.\u00a0<\/span><\/p>\n

It has dropped below its 50-day <\/span>Simple Moving Average (SMA)<\/span> and is trading below its 200-day SMA, with bearish sentiment in the short and long term.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu: Whales Accumulate Yet Price Drops \u2013 What\u2019s Going On?<\/a><\/p>\n

Also, its <\/span>Relative Strength Index (RSI)<\/span> is at 34.74 and rapidly descending to the oversold region of 30. It implies that the bears are in control as more traders take short positions in the market. And the decreased trading activity is aiding the current price drop.<\/span><\/p>\n

LTC’s <\/span>Moving Average Convergence\/Divergence (MACD)<\/span> is below its signal line and displays a negative value. This is a bearish sentiment for the asset.<\/span><\/p>\n

LTC Support And Resistance Levels\u00a0<\/span><\/h2>\n

LTC has dropped below $83.30, leading to speculations of further price decline. The bears at the $88.26 resistance level have resisted a potential break to the upside for the asset.\u00a0<\/span>Other critical resistance levels are $90.99, approximately the psychological resistance of $100, and $100.20.<\/span><\/p>\n

Related Reading: Cardano TVL Climbs By 10% In A Day \u2013 Is ADA Set To Soar Once Again?<\/a><\/div>\n

LTC will likely rest on the $80.87 support in the coming days and might decline further to the next support of $78.85. The indicators are all bearish and point to a decline. However, LTC can rally again if the $80.87 support becomes a price pivot for an uptrend.\u00a0<\/span><\/p>\n

Litecoin Halving Boost Hope For A Future Rally In 2023<\/h3>\n

Litecoin is a cryptocurrency from the original Bitcoin protocol. <\/span>Litecoin halving<\/span> is similar to that of Bitcoin which is an event where miners\u2019 rewards are reduced significantly as a price control measure to increase scarcity and boost its value.<\/span><\/p>\n

\n

100 Days till the Litecoin Halving!<\/p>\n

— Litecoin (@litecoin) April 24, 2023<\/a><\/p><\/blockquote>\n