- A number of indicators present Litecoin worth would possibly want to drag again additional.
- The digital asset stays buying and selling inside a sturdy uptrend on the every day chart.
Litecoin price is up by virtually 60% prior to now week hitting a brand new 2020-high at $124. The digital asset has skilled a wholesome correction all the way down to $98 however would possibly must drop even additional as a number of indicators have turned bearish.
Litecoin worth flashes a major promote sign on numerous time frames
On the every day chart, the TD Sequential indicator has offered a promote sign on December 21 which appears to be getting a variety of validation. The next significant support level seems to be located at $80, the place the 50-SMA at the moment stands.
LTC/USD every day chart
Equally, on the 1-hour chart, the TD Sequential indicator simply offered a promote sign as Litecoin worth slipped under the 50-SMA and the 100-SMA. The following potential goal can be the 200-SMA at $100.
LTC/USD 1-hour chart
Nevertheless, if bulls can defend the 50-SMA on the 1-hour chart and finally push Litecoin above the 100-SMA, Litecoin worth can simply goal the final excessive at $118 and doubtlessly the 2020-high at $124.