- Litecoin price launches another attack towards $50 but stalls at $48.00.
- LTC/USD poised for more downward action as observed with the RSI and MACD indicators.
Litecoin price action continues to follow the confines of a descending channel after the recovery in the last week of April stalled under $50. The channel support remains instrumental in slowing down the selling pressure. Also vital to the buyers is the short-term support range; $44 - $45.
At the time of writing, LTC/USD is trading at $46.85 while battling the afore-mentioned channel resistance. A breakout above this channel could allow bulls to take the fight back to the critical $50 level.
According to the RSI’s downward movement from levels close to the overbought, the selling pressure is likely to continue. The same bearish trend is emphasized by the MACD. Although the indicator is still in the positive region, upward movement stalled at 0.23 while the bullish divergence is narrowing. In other words, Litecoin is poised to test the support range at $44 $45 in the coming sessions.
Besides, the key support range, other areas of interest to the bulls include the 50 SMA ($46.67) in the 2-hour range. The 100 SMA is also in line to stop losses at $45.68 while extended declines will seek refuge at $40 and $35 levels respectively.
Litecoin price intraday levels
Spot rate: $46.85
Percentage change: -1.09%
Relative change: 0.5360
Trend: Bearish
Volatility Shrinking
LTC/USD 2-hour chart
 (2)-637245216046880182.png)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Whale grabs 16,000 ETH as Ethereum Foundation vows support for L1, RWA and stablecoins
Ethereum Foundation's Co-Executive Director Tomasz K. Stańczak highlights simplified roadmap scaling blobs and improving L1 performance. Ethereum whale scoops 16,000 ETH, emphasizing growing interest in the token as the price recovers.
Bitcoin retests key resistance at $85K, breakout to $90K or rejection to $78K?
Bitcoin (BTC) price edges higher and approaches its key resistance at $85,000 on Monday, with a breakout indicating a bullish trend ahead. Metaplanet announced Monday that it purchased an additional 319 BTC, bringing its total holdings to 4,525 BTC.
XRP price teases breakout, bulls defend $2 support
Ripple (XRP) price grinds higher and trades at $2.15 during the early European session on Monday. The token sustained a bullish outlook throughout the weekend supported by bullish sentiment from the 90-day tariff suspension in the United States.
Senator Elizabeth Warren launches fresh offensive on crypto
Senators Elizabeth Warren, Mazie K. Hirono, and Dick Durbin want the DoJ’s decision to terminate crypto investigations reversed. The Senators raise concerns over the DoJ’s shift in priorities, terming it a “grave mistake.”
Bitcoin Weekly Forecast: Market uncertainty lingers, Trump’s 90-day tariff pause sparks modest recovery
Bitcoin (BTC) price extends recovery to around $82,500 on Friday after dumping to a new year-to-date low of $74,508 to start the week. Market uncertainty remains high, leading to a massive shakeout, with total liquidations hitting $2.18 billion across crypto markets.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.