- On the downside, the bearish trend is ongoing if the trend line remains unbroken.
- On the upside, if price breaks the trend line and another candlestick closes on the opposite of it, the bearish trend is assumed to have been terminated.
LTC/USD Medium-term Trend: Bearish
- Resistance Levels: $108, $110, $112
- Support levels: $104, $102, $100
Yesterday, June 3, the price of Litecoin was in a bearish trend. Yesterday, the bulls were resisted at the $116 price level after failing to retest the $120 overhead resistance level. The LTC market fell to the previous low of May 31 which was the $106 support level. On the downside, if the bearish pressure continues, the crypto’s price is likely to fall to the lows of $100 or $102 support level.
If the price reached the $100 price level, the bullish gains would have been erased. A bearish trend line had been drawn to determine the duration of the bearish trend. On the downside, the bearish trend is ongoing if the trend line remains unbroken. On the upside, if price breaks the trend line and another candlestick closes on the opposite of it, the bearish trend is assumed to have been terminated.
LTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Litecoin is in a bearish trend. The $116 resistance level had been responsible for the downward correction of Litecoin. On June 1 and 2, the bulls tested the $116 resistance level and the crypto’s price fell to the support of the EMAs and then resume its upward move.
On June 3, the bulls were resisted, and the bears broke below the EMAs and reached the previous low of $104 price level. The MACD line and the signal line are above the zero line which indicates a buy signal.
Litecoin’s price is $104.64 LTC/USD exchange rate today. The real-time LTC market cap of $6.49 Billion currently ranks #5 with , daily trading volume of $906.85 Million and live coin value change of LTC -9.87 in the last 24 hours.
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