The post LTC Price Drops 7% Amid Key Support Test appeared on BitcoinEthereumNews.com.

The price of Litecoin (LTC) has dropped 7% in the last 24 hours, bringing its market cap to $9.33 billion. Despite this decline, technical indicators show mixed signals. The RSI sits in a neutral zone, while Ichimoku Cloud suggests uncertainty around the altcoin’s next move. The EMA structure for Litecoin remains bullish overall, but the shortest-term EMA is sloping downward. If the trend continues, this could lead to a death cross. With LTC at a critical point, a breakout could see it gain 14% to $141, while further weakness could push it down 14% to $106. Litecoin RSI Is Currently Neutral Litecoin RSI is currently at 49.5, down from 69.6 just two days ago. This indicates a shift in momentum as the price dropped 7% in the last 24 hours, even after recent positive developments in its ETF applications. The Relative Strength Index (RSI) is a momentum indicator that measures price strength on a scale of 0 to 100. Levels above 70 indicate overbought conditions, and below 30 suggest oversold conditions. A reading between 40 and 60 typically signals market consolidation, where neither buyers nor sellers have clear control. LTC RSI. Source: TradingView. With LTC now at 49.5 RSI, it sits in a neutral zone, suggesting neither strong bullish nor bearish momentum. However, the sharp drop from near-overbought levels indicates weakening buying pressure. If the RSI trends lower toward 40, this could lead to further declines. If it stabilizes or moves back above 50, it may signal renewed buying interest and potential price recovery. LTC Ichimoku Cloud Shows Mixed Signals LTC price is currently moving downward after failing to hold above the Tenkan-sen (conversion line), which is now sloping downward, indicating a weakening short-term trend. The Kijun-sen (base line) is relatively flat, suggesting that price equilibrium is being tested, and…

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Filed under: News - @ February 1, 2025 2:26 pm