I think the Litecoin price is likely going to drop below the $135 level. This is because it is likely that the Litecoin price would go down to the $130 level before it starts a new uptrend. In this article, I want to explain why I think this.
Our dashtreasury is a dash cryptocurrency blog where we try to inform the community about any possible downside of the Dash price. In our last post we mentioned a possibility of a $100 downside and it became true. Today, we will have another downside. That said, there are a lot of reasons why Dash could hit $135.TL;DR
- The Litecoin market remained slightly bullish today
- Resistance momentum is slowly building around $136.
- LTC can get ready for another drop to $133.
Our analysis of Litecoin price shows that the market is a bit bullish today. Yesterday, the market dropped from $133.41 to $128.83 before the market started to pull back at 1 p.m. The price went from $132.11 to $127.22 in one hour today.
After that, however, Litecoin began to decline again, until the 4th quarter. The hour of trading reached $131.7. Between 12:00 and 16:00 the market turned bullish again and quickly reached $135.49. From here, Litecoin is poised for another decline in the next 24 hours.
crypto-currency heatmap by Coin360
The entire crypto-currency market is trading in the red today. Bitcoin, however, remains in the green, up 1.8% after losing about 6% yesterday. Ethereum has consistently traded in the red over the past 48 years and lost -0.43% today. The rest of the market remains mostly bearish, as was the case yesterday.
Litecoin price movement in the last 24 hours
Litecoin Price Chart from TradingView
Overall, our analysis of the Litecoin price shows fluctuations between $131.94 and $135.49 over the past 24 hours. Unlike yesterday, when the market traded between $129 and $141, price volatility is low today.
Of course, this is a difficult balancing act between resistance and bulls-generated momentum. From an hourly perspective, Litecoin’s price analysis has seen shallow dips like 00:00 followed by hourly pullbacks. But in terms of 24 hours, the price hasn’t changed much.
With a 24-hour high of $135.45 and a market value of $9,437,012,264, Litecoin currently ranks 14th.
LTC/USD 4-hour chart – Is resistance forming again?
Litecoin Price Chart from TradingView
The 4-hour chart shows that after the rise from $127.83 to $135.45 between 8:00 and 12:00, resistance is emerging which could push the price lower. Looking at the last two days on this chart, the market is trading with bullish momentum as suggested by the Litecoin price analysis.
Apart from the brief upticks, the market is trying to break through the February 4 high at 146.78. July 2021. Although this seems unlikely. Instead, LTC/USD is poised for a lower high to reach the next support target in the coming days.
Litecoin Price Analysis Number: Is LTC insurance about to fall sharply?
The Litecoin market is rather bearish today, as it was yesterday, after falling since the high of the 7th. July has fallen. The market then fell below the $135 support level. Although the market has retreated in the last few hours, resistance is quite high according to Litecoin price analysis.
It looks like the bulls won’t be able to hold the market for long. This could lead to a rapid decline in the coming hours, wiping out the little momentum the bulls created between 8:00 and 12:00 today.
We can expect Litecoin to drop to $125 in the coming days (and possibly within 24 hours).
While we wait to see how the market fluctuates over the next 24 hours, you can check out our full guide to bitcoin commissions and the best bitcoin wallets in 2021.
Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.
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