Litecoin Technical Analysis: LTC About To Flash The Sell Signal In TD Indicator
Daily Litecoin LTC Price Analysis
- The MACD in the 4-hour Litecoin price chart shows increasing bearish momentum.
- The relative strength index in the daily chart has dipped into the neutral zone.
The Litecoin price failed at the $225 resistance barrier this Sunday and dropped by $30 to $195. The bears have been in control of LTC for two straight days, and it looks like a further drop is in the cards for the digital silver.
Litecoin Price About To Dip Dramatically
Prior to this Sunday’s Litecoin price correction, the asset was overly heavy valued, which is evident by the fact that the RSI has been hovering around 78. However, since then, the bearish correction has brought LTC back under control. The price is about to flash the sell signal in the TD sequential indicator, in the form of the green-nine candlestick, so further drop is expected.
Image: LTC/USD daily
If the price falls, the next viable support barrier is at $185, wherein 46,000 addresses had purchased 1.2 million LTC tokens.
In the 4-hour Litecoin price chart, the MACD shows increasing bearish market momentum. Similarly, the 20-bar SMA has been flipped from support to resistance, which is another negative sign.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
The last time LTC flashed the green-nine candlestick, sell signal, the price dropped from $178.50 to $133. As such, we can expect the Litecoin price to drop even more.