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Litecoin price has already lost 92% of its value against BTC

 


While the crypto market has literally exploded over the past five years, Litecoin has struggled to surpass 2018 highs.


The Litecoin course has already lost around 92% of its value against BTC

Little technical analysis is left on the BTC chart as the Litecoin price is far from any support zone as it continues to form new lows. In the last five years, the Litecoin price has lost around 92% of its value against BTC.


The MACD remains bearish as the histogram ticks bearish lower. On the other hand, the RSI could be building bullish divergence going forward, which could initiate the next upside move. However, no bullish divergence is currently in sight.


Litecoin finds significant resistance at 0.0044 BTC and 0.0072 BTC at the latest.

Litecoin price is at trend line support

The Litecoin price is finding support at the three-year trend line at the current price level of around USD 63. If Litecoin stays above this trend line and bounces off it bullishly, Litecoin will already encounter significant Fibonacci resistance at around USD 150 and USD 210.


Otherwise, significant horizontal resistance is waiting for the Litecoin price between USD 227 – 271 and USD 376 – 414.


However, on the monthly chart, the MACD is clearly bearish as the histogram ticks bearish lower while the MACD lines remain bearish crossovers. The RSI is moving towards oversold regions, but is currently not showing any bullish or bearish signals.


If the Litecoin price breaks the trend line bearishly at around USD 63, there is still a small support for the LTC price at around USD 52.


Otherwise, Litecoin only finds around 43% lower again, between USD 29 – 39 significant support.


A death cross could establish itself in the weekly chart

A death cross may be forming on the weekly chart as the EMAs are getting dangerously close. This would confirm the bearish trend in the medium term.


In addition, the RSI is also gradually reaching oversold regions here, but is giving neither bullish nor bearish signals. The MACD, on the other hand, is clearly bearish because the MACD lines are bearishly crossed and the histogram is ticking bearishly lower.


The death cross is already active in the daily chart

A death cross was already established in the daily chart at the end of 2021, confirming the bearish trend in the short to medium term. The RSI is trending up, while Litecoin price has been moving sideways for the past few weeks. If this pattern continues, Litecoin has a chance of a bullish divergence on the RSI, after which Litecoin could spike sharply.


After all, the MACD in the daily chart is a bit more bullish, because the histogram is also ticking bearishly lower, but the MACD lines are bullishly crossed.


If Litecoin now bounces off the support, the first resistances await LTC at around USD 81 and USD 116, where Litecoin hits the 50-day and 200-day EMA.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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