Litecoin Price Falls 2.8% to $84 Amid Bearish Market Sentiment
Litecoin (LTC) is currently in a bearish trend, according to crypto trader Grayhoood. Key points include:
- LTC has dropped 2.8% in the last 24 hours.
- The price fell from $89.00 to $84.00, reflecting sustained selling pressure.
- Technical indicators show potential for further declines, with the Relative Strength Index (RSI) nearing oversold territory.
- Momentum oscillators like the Stochastic indicator and Commodity Channel Index (CCI) suggest continued downward movement.
- Short-term moving averages indicate strong sell signals, with LTC down 9.0% over the past week and 12.5% over two weeks.
- Despite recent losses, LTC shows a 2.3% gain over the past year, indicating long-term bullish potential.
- Market sentiment remains bearish due to failure to hold key support levels amid volatility.
Until short-term indicators align with the long-term outlook, LTC may continue to encounter challenges.
