{"id":150755,"date":"2022-01-27T07:53:02","date_gmt":"2022-01-27T07:53:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=150755"},"modified":"2022-01-27T07:53:02","modified_gmt":"2022-01-27T07:53:02","slug":"litecoin-ltc-price-analysis-risk-of-more-downsides-below-100","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-risk-of-more-downsides-below-100\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Risk of More Downsides Below $100"},"content":{"rendered":"
Litecoin price is struggling below $120 against the US Dollar, similar to bitcoin. LTC price could resume lower if it breaks the $100 support zone.<\/em><\/p>\n This week, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $140 resistance zone and started a fresh decline.<\/p>\n There was a break below the $130 and $120 support levels. The price even settled below $120 and $115. A low was formed near $96.50, and the price recently corrected higher. There was a move above the $100 resistance zone.<\/p>\n However, the price failed to gain strength above the $110 level. It failed near the 23.6% Fib retracement level of the recent decline from the $153 swing high to $96.51 low.<\/p>\n The price is now trading below $120 and the 55 simple moving average (4-hours). On the downside, an immediate support is near the $102 level. There is also a key rising channel forming with support near $100 on the 4-hours chart of the LTC\/USD pair.<\/p>\n The next key support is near the $100 level. If there is a downside break the $100 support, the price could visit $92. The next major support is near the $88 level, below which the price could slide towards the $75 level.<\/p>\n On the upside, litecoin is facing resistance near the $115 level. The next major resistance for the bulls is near the $125 level. It is near the 50% Fib retracement level of the recent decline from the $153 swing high to $96.51 low. \u00a0A clear move above the $125 level could pump the price. The next key resistance could be $132.<\/p>\n <\/p>\n Litecoin Price<\/p>\n Looking at the chart, litecoin price is clearly trading below $120 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if there is a break below the $100 support.<\/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 below the 50 level.<\/p>\n Key Support Levels \u2013 $102 and $100<\/p>\n Key Resistance Levels \u2013 $120 and $125.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n