Can Litecoin (LTC) Price Break Free from the $140 Resistance
- Litecoin struggles to break above the $140 mark, indicating significant selling pressure.
- LTC price drop and declining trading volume suggest bearish momentum and market uncertainty.
The Litecoin price analysis suggests it is facing strong resistance from the $140 level. The price has tested the level and failed to break through decisively. This suggests that there’s significant selling pressure at this level.
If the LTC price fails to break above the $140 resistance again, investors could see a pullback toward the EMAs for support. A break below the 200-day EMA could signal a deeper correction.
As per the Trading View data, the Year-to-date LTC price surged by approximately 18.07%, and over six months it grew by 86.24%. Last month it decreased by almost 6.50% and last week it surged by 3.37%.
According to CMC data, at the time of writing Litecoin’s crypto price is trading at $121.79 with an intraday drop of 5% indicating bearishness. The daily trading volume has dropped by 50.45% and the volume-to-market ratio is 7.55% suggesting good liquidity. Furthermore, the market cap is $9.2 billion and the 24-hour trading volume is $691.93 million.
Will Litecoin Price Break The $140 Mark?
Source: Tradingview
At present, Litecoin is facing resistance at the upper level and bears trying to halt the momentum. However, buyers are also trying their best to break the upper resistance level.
MACD is showing a bearish cross heading towards the median line with a red histogram. While RSI is at 49.70 suggesting neutrality. Moreover, the trading view technical summary also supports neutrality. As per the technical summary of the trading view for LTC crypto, out of 26 indicators, 7 are on the sell side, 10 are on the neutral side, and 9 are on the buying side.
Litecoin price still trading above the 50-day and 200-day key EMAs suggesting buyers have still an advantage. However, if the price successfully breaks the $140 mark, investors may witness a fresh rally. But if the price breaks below 50-day EMA support it could decrease further.
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