Litecoin technical analysis: LTC/USD falls by 4.40% as bulls fail at the $100-level

• LTC/USD fell from $99 to $94.60 this Friday.
• The SMA 20 curve has taken a sharp turn and is acting as market support.

LTC/USD daily chart

The 20-day simple moving average (SMA 20) curve has taken a sharp turn and is acting as market support. The price has fallen from $99 to $94.60, as the bulls failed to go past $100. The moving average convergence/divergence (MACD) shows sustained bullish momentum. The SMA 50 is trending above the market, while the SMA 200 lies below.

LTC/USD 4-hour chart

LTC/USD 4-hour price chart is trending within the red Ichimoku cloud. The 4-hour chart shows that the bulls are trying to rally together against the overall bearish domination. The price fell to $96.40 to $93.35 before the bulls picked it up to $94.60. The Elliot oscillator shows six straight bearish sessions.

LTC/USD hourly chart

The hourly chart shows that the price fell to $93.35 before the bulls fought back over the next three hours to bring the price back up to $94.60. The bears had managed to break below the 20-day Bollinger band, indicating that it was undervalued before the bulls pushed it back inside. The relative strength index (RSI) indicator was creeping along the oversold zone before it went up to 42.42.

Key Levels