https://ift.tt/eFn3phV price analysis: LTC struggles to maintain $126. Decline ahead?

TL;DR Breakdown

• Litecoin price analysis shows a mixed market sentiment.
• Support for LTC is present at $121.
• Resistance is present at $129.4.

The Litecoin price analysis for today shows a slow price oscillation. LTC/USD pair is struggling to maintain the current price level of $126, as after the recent decline when the price dropped to the level of $125.2 on 11th February; the coin hasn’t been able to recover much. The start of the trading session was bearish as the coin declined upside and the price level sunk, but bulls are again trying to elevate the price to minimize the loss. Support is present at $121 for LTC, whereas resistance is present at $129.4 for the bulls.

LTC/USD 1-day price chart: LTC bulls lack the momentum

The 1-day Litecoin price analysis shows LTC/USD is struggling to maintain the current price levels. The price movement is slow, and the volatility is on a high, but a positive hint is the appearance of a small green candlestick on the one-day chart, which was previously red for the day. The coin, however, shows an increase of 3.51 percent in price value over the last 24 hours, which is mostly due to the bullish price function of yesterday. Low trading volume is also contributing to the slow price movement as the trading volume has been down by 21.5 percent over the last day.

The moving average (MA) is trading at $141 above the SMA 50 level. The Bollinger bands show a constantly increased volatility, with the upper band at $141 and the lower band at the $97 mark. The average of Bollinger bands is present below the price level at $119. The relative strength index (RSI) is at the centerline showing a score of 50, and the indicator’s almost straight curve hints at a lack of momentum from either side of the market.

LTC/USD 4-hours analysis: Recent developments and further technical indications

The 4-hour Litecoin price analysis shows a bullish trend for LTC/USD as price movement has been on the positive side for the last four hours after a decline observed at the start of the trading session. The 4-hour chart shows bullish supremacy for the past 24 hours, but bulls need more push to continue their lead.

The volatility is high, but the upper Bollinger band is slowly moving inwards, indicating a slight decrease in volatility for the cryptocurrency. The upper Bollinger band is at the $142 mark, and the lower band is at the $119 mark. The average of Bollinger bands is forming at the $131 mark above the price level.

The relative strength index (RSI) is still in the lower half of the neutral zone at index 43, but along with the moving average coming below the price level and slightly decreasing volatility, there seems to be enough space for buyers to come in.

Litecoin price analysis: Conclusion

The 1-day and 4-hour Litecoin price analysis is showing a risky day for intraday traders as the price moved down at the start of the day, but now the price function is headed upwards. Some slight improvements in price are expected in the coming hours only if bulls get more support. On the other hand, as the trading volume is less and bears have also shown some resistance, there are chances for the LTC/USD to resume the bearish trend.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.