{"id":146400,"date":"2021-12-02T08:07:47","date_gmt":"2021-12-02T08:07:47","guid":{"rendered":"https:\/\/precoinnews.com\/?p=146400"},"modified":"2021-12-02T08:07:47","modified_gmt":"2021-12-02T08:07:47","slug":"litecoin-ltc-price-analysis-risk-of-fresh-decline-below-200","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-risk-of-fresh-decline-below-200\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Risk of Fresh Decline Below $200"},"content":{"rendered":"
Litecoin price is consolidating above $200 against the US Dollar, similar to bitcoin. LTC price could resume lower if it breaks the $200 support zone.<\/em><\/p>\n This week, there was a decent recovery in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $230 resistance zone and started a fresh decline.<\/p>\n There was a break below the $220 and $210 support levels. The price even dived below the $200 support and the 55 simple moving average (4-hours). A low was formed near the $182 level and the price is now correcting losses.<\/p>\n It is now trading near the $200 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the $229 swing high to $182 low. Besides, there was a break above a crucial bearish trend line with resistance near $211 on the 4-hours chart of the LTC\/USD pair.<\/p>\n An initial resistance is near the $215 level. The next key resistance could be $220. A close above the $215 and $220 levels could open the doors for a decent increase. In the stated case, the price could rise towards the $240 level in the near term.<\/p>\n On the downside, an immediate support is near the $205 level. The first key support is near the $200 level. If there is a downside break the $200 support, the price could visit $182. The next key support is near the $165 level, below which the price could slide towards the $150 level.<\/p>\n <\/p>\n Litecoin Price<\/p>\n Looking at the chart, litecoin price is clearly trading near $205 and the 55 simple moving average (4-hours). Overall, the price could start a fresh decline if it fails to stay above the $200 support in the near term.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is slowly gaining pace in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for LTC\/USD is now near the 50 level.<\/p>\n Key Support Levels \u2013 $205 and $200<\/p>\n Key Resistance Levels \u2013 $215 and $220.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n