Have You Been Watching the LTC Price Today and Wondering to Which Side the Scale Will Tip?

Let's quickly take a look at how Litecoin has performed over the past 24 hours and perform a comprehensive LTC price analysis.

Have you been keeping an eye on the LTC price today and wondering to which side the scale will tip? Let’s quickly take a look at how Litecoin performed over the past 24 hours and perform a comprehensive LTC price analysis. As we analyze previous performance, we will identify LTC price trends and discuss what indicators tell us about the future.

LTC Price Analysis of Past 24 Hours: Litecoin Fails to Go Beyond $90

LTC started the day at $91.75, marking the end of an upward trend. A death cross appeared close to midnight, leading the LTC price into a downtrend. With the LTC price at $90.4, a strong bullish momentum was required to sustain the growth. Litecoin did start climbing, with a golden cross rallying in support, but the momentum could not hold. An extended downtrend followed as the EMAs converged, and a death cross formed on the MACD at 02:40 UTC. At the end of this downtrend, LTC found itself at $88.88 at 06:40 UTC. The RSI also entered the oversold zone following the slump.

Chart 1, analyzed by raodevansh18, published on TradingView

As selling pressure decreased, a bullish reversal was seen, but it ended up being short-lived as another turnaround ensured LTC sank further to $88.3 at 8:40 UTC. The RSI also neared the oversold zone as a notable golden cross appeared. The buying pressure increased as LTC started escalating, eventually touching $90.4. At the same time, the market entered overbought conditions while the EMAs started working together.

Litecoin’s Wild Ride: From $90 to $86!

LTC price seemed to consolidate around $90, facing strict resistance at $90.6. LTC would spike to $91 at 12:30 but faced strong rejection after, as a lengthy downtrend followed. Selling pressure rapidly increased, reaching saturation at 13:55 as the price slumped to $88. While another golden cross threatened with a comeback, the reversal was strong as the downtrend ensued.

The downtrend would eventually face its first reversal when LTC was at $86.5 at 18:00 UTC. As selling pressure fizzled out, a golden cross was seen 10 minutes later, suggesting a possible sustained reversal. But that wasn’t to be, as Litecoin spiked to $87.8 and returned to $86.3 within two hours. At 21:35 UTC, the shorter EMA overtook its longer counterpart as LTC climbed up confidently, working its way to $88.7 at 23:05 UTC. The RSI reported overbought conditions as the price inflated.

LTC Price Trends for March 14: Will Bullish Momentum Prevail or a Steep Downtourn Follow?

The upward trend that started on the previous day lost its vigor but has continued to persist. A death cross at 23:25 caused a downward spike. Very soon, Litecoin entered an upward channel, as both trendlines started to climb, going all the way to $89.5. The last update noticed was a death cross at 3:05, corroborating a potential downturn.

However, seeing LTC’s previous affinity for trends, it looks like the gradual uptrend might persevere before losing steam. Once buying pressure decreases, a steep downturn may occur. For any further upward momentum, LTC will require sustained bullish momentum to take it across the $90 resistance. Otherwise, it may not be the day that LTC crosses that point.

LTC Price Analysis: Is a Breakout Possible Today?

LTC price today has showcased fluctuational behavior, with channels and short-term reversals. Given that, for upward momentum to hold, LTC will need prolonged buying from the market. If it fizzles out, the road to a $90 resistance break may turn out to be a longer one. Investors are highly recommended to perform their own research before making substantial financial choices.