Litecoin News

Litecoin Price Analysis – Hidden Bearish Divergence Indicates Prices May Drop Further.

Unlike most other leading cryptocurrencies, the price of Litecoin (LTC) has not been able to surpass its June 21 high [$197.8]. Although some analysts suggest that a break above the July inner bar resistance [$148.1] may be enough to signal the conclusion of the corrective phase, we believe it is still necessary to look at the lower 4HR time frame for clues about the prevailing trend direction and possible scenarios.

Litecoin (LTC) Intraday Levels

  • Trading Price: 152.44
  • Mid–Term Trend [H4]: Slowing Bearish bias
  • Volatility: Medium
  • Support: $139.7
  • Resistance: $154.9, 166.6, and $193.0

After signaling a concealed negative divergence on 16 September 08:00, the LTCUSDT began a bearish campaign on the 4HR time frame, sending the price spiraling down by 24 percent.

LTC Price Analysis - Hidden Bearish Divergence Indicates Prices May Drop Further.

On 16 September 08:00 and 23 September 20:00, the on-chart RSI viewed from the 4HR time frame falls below hidden inside bar support while above the RSI level-75, indicating a significant bearish presence in the daily time frame.

We predict a price drop that might reach the current support level of $139.70 if the LTC price steadily rises at press time and the RSI approaches level-75. A price rise over the bearish divergence barrier, on the other hand, may lay the stage for a bullish rebound, as a glance at the daily chart reveals a regular bullish divergence.

On 16 September 08:00 and 23 September 20:00, the on-chart RSI viewed from the 4HR time frame falls below hidden inside bar support while above the RSI level-75, indicating a significant bearish presence in the daily time frame.

We predict a price drop that might reach the current support level of $139.70 if the LTC price steadily rises at press time and the RSI approaches level-75. A price rise over the bearish divergence barrier, on the other hand, may lay the stage for a bullish rebound, as a glance at the daily chart reveals a regular bullish divergence.

Leave a Comment

Your email address will not be published. Required fields are marked *