When Does Litecoin Token Bearish Rally End?

  • Litecoin token over the monthly chart is projecting a bearish rally since the past few trading sessions, with no sign of solid reversal. 
  • Currently, the crypto asset is trading below its all vital moving averages of 20, 50, 100, and 200-day lines, with below-average volume activity.
  • The pair of LTC/BTC is trading positively at 0.003518 BTC with a minor 24-hour gain of +0.75%, and the ratio of LTC/ETH is CMP at 0.05091 ETH with an intraday gain of +1.24%.  
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Litecoin token at the monthly time frame is trading under the strong grip of bears, as the crypto asset is trading near its 3-month lows. Meanwhile, the digital asset is trading under the downtrend with no sign of any significant recovery. Volume at the monthly chart is also lower and falls below its average volume line, which needs to grow strongly for a sustainable bounceback.

The overall short to medium-term trend will remain bearish until the coin trades below its major moving averages of 100 and 200-DMA lines. The supportive volume will boost more buyers once the bulls regain their necessary moving averages of 50, 100, and 200-day lines. Support on the lower side is $135 and $124, whereas resistance on the higher side is $171 and $192. 

Litecoin token trend is still bearish, and bulls are trying to push the token higher

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Litecoin token trend over the weekly chart is still bearish, and somehow bulls are trying to push the token higher. Likewise, the technical parameters are moving higher after a continuous downtrend at the 4-hour time frame. Volume at the weekly chart needs to improve enormously for an upcoming positive rally in the future. LTC token is trading at $148.13 with an intraday growth of +0.19%, and the volume to market cap ratio is at 0.2765. 

Relative Strength Index (NEUTRAL): Litecoin token RSI is trading under slight growth after a correction from higher levels. The coin is currently heading towards the higher zone with a gradual recovery and CMP at 49. 

Moving Average Convergence Divergence (MIXED): The daily chart indicates a mixed or neutral trend at the 4-hour time frame. At the same time, the seller’s line (red) overlaps the buyer’s signal line (green), with no clear trend.      

Support levels: $135 and $124

Resistance levels: $171 and $192.