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  • LTC/USD bulls must protect the $36.15 support line to prevent further downward movement.
  • LTC/USD charts seven straight red sessions in the four-hour chart.

LTC/USD daily chart

LTC/USD daily chart

LTC/USD fell from $41.60 to $39.45 so far this Friday as the downward trending line acts as market resistance. The price dropped below the support provided by the 20-day Simple Moving Average (SMA 20) curve. The $36.15 support line needs to be defended by the bulls to prevent further downward movement. The Relative Strength Index (RSI) indicator dropped from 45.30 to 39, hinting that even further price drop may be around the horizon.

LTC/USD four-hour chart

LTC/USD four-hour chart

LTC/USD dropped below the support provided by the red Ichimoku cloud and is sitting on the $39.40 support line. The SMA 50 has crossed over the SMA 20, which is a bearish sign. The Elliott Oscillator has had seven straight red sessions.

LTC/USD hourly chart

LTC/USD hourly chart

LTC/USD has had seven straight bearish sessions in the hourly chart, wherein its price fell from $41.35 to $39,50. It fell below the 20-day Bollinger Band in the process but has since managed to re-enter the Band. The Moving Average Convergence/Divergence (MACD) indicates increasing bearish momentum.

Key Levels