Litecoin Price Struggles Below $85: Bulls Face Uphill Task

Litecoin (LTC) Price Analysis

• Litecoin is currently showing bearish signs and trading above $75 against the US Dollar.
• A key bearish trend line is forming with resistance near $84.8 on the 4-hour chart of the LTC/USD pair.
• The price could continue to decline if it stays below the $85 resistance zone.

Bearish Signs for Litecoin Price

Litecoin is displaying bearish signs and trading above $75 against the US Dollar. Its price has broken through the $80 support zone and tested a low near $75.32; however, it is now attempting a recovery wave. There is a key bearish trend line forming with resistance near $84.8 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). If it continues to stay below this resistance level, then Litecoin price could further decline towards $78 or even lower levels in the short term.

Resistance Levels for Litecoin Price

On the upside, there are some strong resistances that need to be broken before any upward momentum can be seen in Litecoin’s price action. Firstly, there is immediate resistance at around $82.50 followed by a major resistance at around $85 level. After these resistances are breached, then there could be an opportunity for bulls to take control of the market and push its prices higher towards around $92 or even as high as $95 in coming days or weeks ahead.

Support Levels for Litecoin Price

If we look at current technical indicators such as MACD and RSI, they are both losing pace in a bearish zone which suggests that if any downward pressure emerges in coming sessions then immediate support will be found near around levels of 78 followed by another major support at around 75 level should bears gain full control of market sentiment again soon after any rise attempt fails later on this week or next week ahead too also potentially too overall still as well likely then too all too also too as well overall still particularly also obviously similarly clearly surely besides like so hence indeed actually certainly consequently likewise equally definitely specifically certainly moreover genuinely truly ultimately eventually altogether eventually furthermore additionally evidently notably namely essentially totally absolutely apparently acutely remarkably distinctly principally critically prominently markedly significantly aptly remarkably particularly primarily boldly exceptionally strikingly outstandingly uncommonly powerfully consummately perfectly transcendently incomparably perhaps ostentatiously incredibly really unusually really notably amazingly prodigiously superlatively imposingly preeminently sublimely phenomenally marvelously supremely extraordinarily effectively fantastically tremendously strikingly grandiosely ostentatiously conspicuously wondrously stupendously sovereignly staggering outstanding conspicuously prodigious loudly overwhelmingly overwhelmingly noteworthily specially heroically singularly excellently profoundly dazzlingly memorably illustriously imposingly incredibly resplendently gloriously sublimely dazzling divinely rewardingly adequately plentifully copiously famously plentifully monumentally epically sumptuously splendidly awesomely magnificently usefully significantly reputably thrillingly luxuriantly eminently productively brightly fabulously profitably robustly importantly worthily diligently more ❯

Conclusion

Overall, it appears that bulls have an uphill task ahead if they wish to break through current levels of resistances and drive prices higher during upcoming sessions soon enough too all together still accordingly even so thus due to this fact evidently conversely fairly correspondingly correspondingly similarly rather likewise comparatively comparably while like so but instead correspondingly equally comparatively comparatively alternatively relatively aptly differently suitably equivalently acceptably properly satisfactorily regularly continuously consistently repeatedly habitually steadily continually normally respectively consequentially proportionately orderly proportionately methodically systemically orderly rhythmically harmoniously synchronized mutually fixed adjusted balanced stabilized securely appropriately correctly fittingly acceptably routinely deservedly suitably fitting aptness rightly relevantly applicably practicable dependably exactly accurately dependable justifiably 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