Litecoin’s $174 support level comes into play as market retreats

Litecoin’s $174 support level comes into play as market retreats

The cryptocurrency market has retraced after a strong weekend, and further losses could be on the cards

The cryptocurrency market finally retraced yesterday after rallying for the past few days. Bitcoin and the other leading cryptocurrencies all recorded losses over the past 24 hours. After topping the $47,000 level, BTC lost 3.6% of its value and is now trading in the $45,000 region.

Ether also rose close to the $3,300 level but has lost 4% of its value and is now trading just above $3,100 per coin. Litecoin fell by 3.6% yesterday, eliminating the 1% profit it made on Sunday. The loss came after Litecoin began Monday with a bullish run, closing in on the $190 mark.

However, LTC fell to a low of $179 before the end of the day. Currently, Litecoin is trading at the $178 level and could sustain further losses if the market correction continues. Leading market analysts believe that it is time for a healthy market correction as the rally has been sustained for the past few days.

https://twitter.com/CryptoMichNL/status/1427360505333751812

LTC price outlook

The LTC/USDT 4-hour chart is looking bearish at the moment, reflecting the state of the broader cryptocurrency market. At the moment, Litecoin is trading at the 23.6% Fib level of $178. The cryptocurrency will need to move past this level and the $182 pivot if it is to make a run towards the first major resistance level at $186.

LTC/USDT 4-hour chart. Source: Coinalyze

If the broader market recovers from the recent correction and resumes its rally, LTC could look to make a run at the $193 resistance level. However, it could be tough to go beyond that unless there is an extended bullish run.

On the flip side, failure to move past the $178 level could see the bulls required to defend the first major support level at $174. Unless there is an extended market sell-off, Litecoin should comfortably defend the next support level around $170.

The post Litecoin’s $174 support level comes into play as market retreats appeared first on The Home of Altcoins: All About Crypto, Bitcoin & Altcoins | Coinlist.me.

  • Bitcoin
  • Ethereum
  • Tether
  • Cardano
  • Polkadot
  • Binance coin
  • Dogecoin
Scan to Donate Bitcoin to 194astnfvj2nr6izGJFwG9ebRqNU7ynQYY

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Tether to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to DdzFFzCqrhsu1xWeeGai3gbgsbrFP26zPaVrCJqqF286carQJmAkTitRQSUCLhYLpKCotroRRNpKj7YcnAJQqpSfsHHdj8nUaitPvH4j

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Polkadot to 155rGKVEanCxpi5EqGh8yh1AkGpm6bVUa7RQNydA38KzbhNu

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- 105346725
Scan to Donate Dogecoin to DKN9sscVgSBVyG7f9PYJq2D3BhWK5ffUmK

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin


Credit: Source Link

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
WP Twitter Auto Publish Powered By : XYZScripts.com