LTC trades in red along with major altcoins: LTC Technical Analysis

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Litecoin [LTC] Technical Analysis

The overall cryptocurrency market has witnessed a downtrend for quite some time. But there are some coins like EOS, Bitcoin SV, Bitcoin, IOTA, and Binance coin which are trading in the green. Therefore a mixed wave of both green and red is being exhibited by the market. EOS gained the highest over the day and is currently held between both Bitcoin Cash ABC and Bitcoin SV. Litecoin [LTC] on the other hand has been facing a decline in price value over the past few days. The coin has lost nearly 10% market cap over a week and around 52.2 % over a period of one month.

LTC/USD

The 100 EMA line of the coin indicated that the cryptocurrency was exhibiting a downtrend. The MACD indicates that the digital asset is traveling in the bearish zone for quite some time. The RSI of the coin is at 38.48 which points out that the virtual asset is experiencing increased selling in the market. The key support level of the digital currency is placed at $23.31 above which the coin is trading. The crypto asset exhibits a trading range from $24.76-$26.46. LTC had fallen down against the U.S. dollar by nearly 3.32% and was trading at $25.41 during press time. Over the past day, the coin has lost nearly $83.85 million of market cap and at the time of writing its market cap stood at $1.5 billion.

LTC/BTC

At the time of writing, the coin slipped 4.68 against Bitcoin [BTC] and it was valued at 0.00705280 BTC.

Litecoin [LTC] Latest Updates

Recently, the crypto market witnessed certain whale movements. Lately, 36 million LTC have been transferred to the top 50 LTC wallets. There is a probability that these LTCs have been transferred to wallets that possess huge amounts of LTC.

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