{"id":164129,"date":"2022-09-22T07:37:38","date_gmt":"2022-09-22T07:37:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=164129"},"modified":"2022-09-22T07:37:38","modified_gmt":"2022-09-22T07:37:38","slug":"litecoin-ltc-price-analysis-bulls-struggle-to-protect-50","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/litecoin-ltc-price-analysis-bulls-struggle-to-protect-50\/","title":{"rendered":"Litecoin (LTC) Price Analysis: Bulls Struggle To Protect $50"},"content":{"rendered":"
Litecoin price is struggling below $55 against the US Dollar, similar to bitcoin. LTC price could resume its decline if there is no clear move above $55.<\/em><\/p>\n In the past few days, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC traded as high as $58.42 and started a fresh decline.<\/p>\n There was a clear move below the $55 and $54 support levels. The price even declined below the $52 level and the 55 simple moving average (4-hours). Finally, the bulls were active near the $50 level. A low was formed near $50.01 and the price started a recovery wave.<\/p>\n There was a move above the $52 resistance zone. It climbed above the 23.6% Fib retracement level of the recent decline from the $58.42 swing high to $50.01 low. The price is now trading below $55 and the 55 simple moving average (4-hours).<\/p>\n On the upside, the price is facing resistance near the $53.00 and $54.00 levels. There is also a key bearish trend line forming with resistance near $53.20 on the 4-hours chart of the LTC\/USD pair.<\/p>\n The trend line is below the 50% Fib retracement level of the recent decline from the $58.42 swing high to $50.01 low. The next major resistance sits near the $55 level. A clear move above the $55 level could pump the price towards the $58 level or even $60.<\/p>\n On the downside, an immediate support is near the $51 level. The next key support is near the $50 level. If there is a downside break below the $50 support, the price could accelerate lower towards the $45 level in the near term.<\/p>\n <\/p>\n Litecoin (LTC) Price<\/p>\n Looking at the chart, litecoin price is clearly trading below $55 and the 55 simple moving average (4-hours). Overall, the price could start a decent upward move if it clears the $54 and $55 levels.<\/p>\n 4 hours MACD \u2013 The MACD for LTC\/USD is now losing 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 $51 and $50<\/p>\n Key Resistance Levels \u2013 $54 and $55.<\/p>\nLitecoin Price Analysis<\/h2>\n
Technical indicators<\/h2>\n