On May 27, the Litecoin price reached a high of $122. Similar highs were reached on May 30. The LTC price has been decreasing since.
In this analysis, we examine the Litecoin (LTC) price alongside technical indicators to determine whether the price is more likely to continue falling or rebound.
Litecoin Price (LTC): Trends and Highlights for June 5, 2019
- LTC has been on a downtrend since May 30.
- It is trading in a descending channel.
- Short-term bullish divergence is developing in the RSI.
- The price is trading in line with the moving averages.
- There is resistance near $104.
- There is support near $96.
On May 27, the price reached a low of $109.9. A gradual increase ensued and the price reached a high of $121.0 on May 30. Since then, it has been gradually decreasing, trading inside the descending channel outlined below:
At the time of writing, the Litecoin price was trading close to the support line of the channel. On Jul 4, it made two lows near $98, before beginning short upward moves.
Will the LTC price rebound or are more decreases in store? Let’s take a look at some technical indicators
The Litecoin (LTC) price is analyzed alongside the RSI and the 10- and 20-period moving averages (MA) below: