Litecoin price has declined below the $45 level and is struggling to recover. if more buyers emerge, the crypto’s price rise will rise towards the $45 resistance level.
After a steady rise, the price of Litecoin (LTC) struggled to continue higher. LTC bulls faced a strong resistance near the $45 level before the price started correcting lower. The price dropped to the $38 level, below the 55 Simple Moving Average on the 4-hours chart.
At the time of writing, the coin is now recovering. Litecoin price is changing hands at the $41 level. On the upside, if more buyers emerge, the crypto’s price rise will rise towards the $45 and $50 resistance level. On the other hand, further losses may perhaps lead the price towards the $38 level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, LTCUSD price is showing positive signs after breaking above the $39 and $40 support levels. Nevertheless, an upside correction towards $41 might face sellers. On the downside, the main supports are near $40 and $38.
In the meantime, the MACD line and the signal line are above the zero line which indicates a buy signal.
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