In this Litecoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for LTC-USDT. Litecoin (LTC) is a peer-to-peer cryptocurrency that was created in 2011 by Charlie Lee, a former Google employee. It is an open-source project that uses the same proof-of-work algorithm as Bitcoin but with a faster block generation time, allowing for faster transactions. Litecoin has a maximum supply of 84 million coins and has been adopted by many merchants and individuals due to its fast transaction times and low fees.
Litecoin Price Overview:
As of September 22, 2023, Litecoin is trading at approximately 64.37 USDT. Let’s dive into the detailed price action for LTC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 64.69 |
| High (H) | 65.88 |
| Low (L) | 63.89 |
| Close (C) | 64.37 |
| Volume (C) | 387,090.78 |
- Open (O): The opening price for today’s trading session was approximately 64.69 USDT.
- High (H): Litecoin reached a daily high of around 65.88 USDT.
- Low (L): The daily low for LTC-USDT was approximately 63.89 USDT.
- Close (C): At the time of analysis, Litecoin is trading near its daily close of 64.37 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -0.49% |
| 3D Change (%) | -4.33% |
| 7D Change (%) | -2.31% |
| 30D Change (%) | -1.93% |
| 90D Change (%) | -28.25% |
| YTD Change (%) | -8.23% |
Over the past three days, LTCUSDT has fallen by approximately -4.33%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -2.31%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LTCUSDT maintaining a downward trend of approximately -1.93%, despite intermittent fluctuations. Examining the last 90 days, LTCUSDT has witnessed substantial drop of approximately -28.25%, reflecting strong long-term confidence. Year-to-date, LTCUSDT has steadily depreciated by around -8.23%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Litecoin Live Chart:
You can access a live price chart for LTC-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.40077.
- Momentum score is -0.01935.
LTC USDT Technical Analysis
Litecoin Trading Volume:
The trading volume for Litecoin (LTC) over the past 24 hours has been insignificant, with approximately 387,090.78 USDT traded against LTC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): LTC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Litecoin is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for LTC-USDT is currently in the low zone, around 42.73876. This suggests that Litecoin is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Litecoin (LTC-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
