Litecoin(LTC): Below 200 EMA / Drop to Come?
Updated
The LTC/USDT trading pair on the daily chart is hinting at a bearish outlook following a rejection from the 200-day Exponential Moving Average (EMA).
Currently, the price is under the 200 EMA—a bearish sign. We are watching this level closely, as maintaining below it could lead to further downward movement. The presence of long wicks on recent candlesticks suggests that while buyers are attempting to push the price up, sellers are ultimately overpowering them, leading to a close near the low of the day (and showing strength by doing it multiple times).
If this bearish pressure continues, we may expect to see the price decline further, potentially testing the next levels of support. As always, we should monitor for any bullish signs or a potential reversal, but as of now, the momentum is favouring the bears.
Currently, the price is under the 200 EMA—a bearish sign. We are watching this level closely, as maintaining below it could lead to further downward movement. The presence of long wicks on recent candlesticks suggests that while buyers are attempting to push the price up, sellers are ultimately overpowering them, leading to a close near the low of the day (and showing strength by doing it multiple times).
If this bearish pressure continues, we may expect to see the price decline further, potentially testing the next levels of support. As always, we should monitor for any bullish signs or a potential reversal, but as of now, the momentum is favouring the bears.
Note
We are still holding this 200EMA, where the price is still trying to push and break from it. As of now - no clear breakout happened so we are still looking for re-test to lower zones!
Note
The last candle had a sharp rejection from 200EMA, so our game plan is still the same. We want to see further movement to the lower zones!!
Note
After multiple rejections, the price showed massive strength, and the price currently got at near $78
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