Convergence

Litecoin

Rise

Divergence

The post <a href="https://coinpedia.org/price-analysis/litecoin-price-stumbles-again-ltc-price-to-record-new-low/" rel="noopener noreferrer nofollow">Litecoin Price Stumbles Again! LTC Price To Record New Low?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The crypto industry continues to display a mixed sentiment as some top tokens record positive uptrend whereas the other half experiences a correction in valuation. Litecoin, on the other hand, continues its struggle to regain momentum as it continues to hover around the $70 mark.
The <a href="https://coinpedia.org/price-prediction/ltc-litecoin-price-prediction/" rel="noopener noreferrer nofollow">LTC price</a> traded in a narrow space between $64.10 and $66.11 for a while, following which the bulls lost momentum and the price recorded a loss of approximately 8% in valuation. However, the bulls held the price strong above its crucial support level of $60.99, resulting in a bounce back in the chart.
The Litecoin price jumped over 12.5% in value, before facing rejection at $68.72, after which the bulls lost momentum and erased 6.7% from its valuation. After testing a low of $64.10, the bulls regained power and the price recorded a jump of 20.5% within the next three days.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/g_AjHeFRmhdP1IMVwYbxWE9wXxjO6ZjGq0CVXV2dg9KRAw3A5pHflB-kdKeNPst5Sn6hJqyNZl6eS5CsFBEB1gedPTEJ_8tkDbO409iI_u8wa4xQutpSczsaIWyPg9oy3FJxWsigxkWGUtPmPCn9D6k" alt="Litecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: LTC/USDT
 </figcaption>
</figure>
Following this, the price started trading under a bearish influence and recorded a loss of approximately 14.5% within the next six days. After this, the price displayed significant fluctuations in its chart, highlighting an increase in buying and selling pressure within the market.
The Litcoin then tested a low of $64.10, following which the price traded sideways for a while. After multiple failed attempts to break the resistance level, the bulls successfully recorded a breakout, after which the price traded in a closed range between $66.11 and $68.72 for the next two weeks.
Since then, the price has been trading in a consolidated range between $68.72 and $72.82 and is on the verge of testing its support level of which the outcome is unpredictable.&nbsp;
<h2 class="wp-block-heading" id="h-will-ltc-rise-again">Will LTC Rise Again?</h2>
The Moving Average Convergence Divergence (MACD) displays a decline in the red histogram, indicating a rise in the buying pressure within the market. Further, the averages show a constant decline in the chart, highlighting a mixed sentiment.
If the market holds the price above the support level of $68.72, the Litecoin price will regain momentum and test its resistance level of $70.62. Moreover, if the market continues to gain power, the LTC price will prepare to test its upper resistance level of $72.82 in the upcoming weeks.
Negatively, if the bulls fail to hold the price above the support level of $68.72, the LTC price will lose momentum and fall to test its lower support level of $66.11. Further, if the bears continue to hold power over the bulls, it will further plunge and prepare to test its crucial support level of $64.10 this month.

Litecoin Price Stumbles Again! LTC Price To Record New Low?

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