- LTC performed with negative momentum on Friday’s trading session
- Litecoin price is $170.82, which is down by 12.45% in the past 24-hour time-frame and 26.75% down from the previous week
- LTC/BTC pair is negative with a loss of 5.50% in Friday’s trading session (0.003698)
Litecoin had positive momentum on the weekly chart, and it went up to $245.96 on February 20, 2021, while breaking over the resistance zones made in the past, whereas, Litecoin price set a record of a 52-week high. Meanwhile, the trading volume of $8,355,951,149 in the last 24-hour time-frame represents an increase in the value of 30.17%. Furthermore, the LTC/ETH pair is negative with a value of (0.1172) that is down by 3.95% in Friday’s trading session.
Litecoin Technical Chart Indicates a Negative Momentum
The technical graph of Litecoin highlights a negative trend. Meanwhile, Litecoin price is at $170.82. In accordance with pivot points, the critical support level for LTC is placed at $158.50. Whereas if it goes up, the important resistance level to observe is $182.25. While diving into the weekly graph of 4-hour time-frame, it completes a bearish engulfing candlestick pattern, suggesting that the bears have overwhelmed the bulls and are now in control.
Volume index with the sum (131.104K) reveals a selling volume. Investors may further anticipate a decrease in selling quantity in future trading sessions.
SMA-200, price is currently at $174.65, which acts as another dependable support from the coin. The cost is testing the SMA, The trend remains unclear for now until it tests the SMA.
MACD index (BEARISH), no bearish crossover over signal line seen on February 26, 2021, suggested a sell signal in the coin throughout the trading session. It denotes the beginning of red bars on Histogram.
Meanwhile, the RSI index (BEARISH) using a value of 39 indicates a sell signal in the coin. One can observe a decrease in value in upcoming trading sessions.
Litecoin price is down by 12.45% on Friday’s trading session moreover the price is testing the SMA of $174.65, and investors may expect the movement of price towards the support level of $158.50. All technical indicators urge a red signal in the coin.