Litecoin price falls to $71.90

Litecoin was expected to grow if Litecoin price broke the resistance of the range $72.789 ⁠— $74.587 (Buy Zone). The coin did not break past the $74.587 mark on the price chart for February 07, thus the price sees itself to a decline after resting between the $73.50 and $74.00 marks. After February 08 started, the price fell below the $72.00 mark.

1-Day Litecoin Price Analysis (February 07)

Litecoin Price Chart

Litecoin Price Chart by TradingView

The price was expected to break the range’s resistance near 14:00 GMT on February 07. The range lied between $72.789 and $74.586. If the price broke the resistance, the next price targets were set as $76.174, $77.901, $79.435, and $81.078. The cryptocurrency failed to break the resistance, and it traded between the $73.00 and $74.00 marks with ruffled price movements until the end of the day.

At the start of February 08, the coin lied close to the $74.50 mark, and it fell below the $72.00 level as a result of bearish momentum. Currently, the LTC/USD trading pair lies at $71.90 US Dollars.

Technical Indicators for Litecoin

Litecoin Featured Price Chart

Litecoin Featured Price Chart by TradingView

The 20-Day Exponential Moving Average (EMA) was seen closing at $72.05 after the trading pair saw a bearish momentum on February 08. At the same time, the 50-Day Moving Average (MA) was seen at $72.72. The last technical indicator, the Relative Strength Index (RSI), was seen at 32.94 at the time of writing.

Featured Image by Runze Shi.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. holds no liability towards any investments based on the information provided on this page.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *