Litecoin price analysis: LTC slips to $52.4 as bears take charge

The Litecoin price analysis shows that bears are leading the charts for today. Overall the coin is trying to get out of the bearish cycle as the price trend line has been upward for the last six days.

Timeline of Litecoin

The multiple lower price rejection candles reflected the failed attempts from sellers to break the $40 psychological support. However, the price action hovering above the $40 mark shaped into a double bottom pattern, whose breakout indicates a recovery opportunity for Litecoin(LTC) holders.

Litecoin price analysis indicates that the cryptocurrency has found support at $41.94 and currently trading at the $49.99 mark. The market is expecting a breakout from the ascending triangle pattern formation.

Litecoin price analysis shows that the market is in a bearish trend as prices have stepped down to the $45.42 level after a bearish takeover from the bears. LTC/USD had found some support at $44.04 but it was not enough to stop the sell-off.

The Litecoin(LTC) sellers ended a four-week consolidation after they breached the $51 support on June 9th. The resulting fall plummeted the altcoin to $40 psychological support, but a rise in demand pressure stalls the selling momentum.

Litecoin price analysis shows that the market is on a bullish trajectory as the price has surged to $46.58. The cryptocurrency trades between an ascending parallel channel, which may act as a support and resistance level for LTC in the near future.

Litecoin [LTC] bears demonstrated their dominance once again towards the end of last week, leading to more downside. However, LTC's latest lows suggest that it is closer to the bottom than expected.

Litecoin price analysis shows the LTC prices are currently showing some bullish momentum building up again after a brief period of consolidation in the $45-$46 region. The prices have found some support near the $40 level and are currently trading around the $45.36 mark.

Litecoin price analysis suggests an upwards movement to $50 The closest support level lies at $40 Litecoin faces resistance at the $45.53 mark The Litecoin price analysis shows that LTC has finally found support at the $40.00 mark, which has enabled the bulls to recover to the $44 mark. However, the bulls still.

Litecoin (LTC) price is in a downtrend as the price broke below the current support at $60. The bears have also undercut the previous low at $54. The upward movement was limited by the 21-day line SMA.

Litecoin market cap crashes as triggered by the bearish movement of the crypto market. Litecoin's market cap was down by more than 30% compared to its performance in the first week of May wherein the digital asset was in top shape.