Litecoin News Today – Litecoin Price Drops to $71.90 After Slight Bull Run 

  • Litecoin price dropped to $71.90 on the day.
  • The 50-day MA stood at $72.72 at press time.
  • RSI for LTC/USD was seen at 32.94 at press time.

Litecoin news today – A critical look at the daily chart of the LTC/USD pair shows that the price of the asset fell to the $71.90 position. The Litecoin price was originally expected to grow due to the ongoing bullish season. This growth was expected to occur if the price of Litecoin broke the resistance range of $72 and $74 which is the buy area. However, the coin’s price failed to break past the $74 position on the daily chart for February 07. This implies that the price underwent a decline after it rested the $73 and $74 areas. Let us see an analysis of the digital asset via the daily chart to prove how it attained this price action.

Litecoin is Facing $76, $77, $79 and $81 as Targets

At the beginning of trade, the price of Litecoin fell below the $72 position. The coin’s price was initially expected to break past the trading range resistance point at 14:00 GMT on Friday, February 07. At the time this range lied between the $72 and $74 areas. If the price of Litecoin manages to break the above-mentioned resistance point, the next price targets for it will be at the $76, $77, $79, and $81 areas. The digital currency, however, failed to break this resistance on the day. Instead, it went on to trade between the $73 and $74 areas. The pair was trading with ruffled movements until the end of trade for the day.

Litecoin (LTC) Price Today – LTC / USD


At the beginning of trade today, February 08, the LTC price was near the $74.50 mark. Eventually, the price of the digital asset fell beneath the $72.00 area due to the encroaching bearish momentum. As of when this content was published, the LTC/USD pair was trading at the $71.90 area. Whether the bulls will return or not isn’t clear.

What do the Technical Indicators for Litecoin Say?

According to the daily chart of the LTC/USD pair the technical indicators show that the 20-day EMA (Exponential Moving Average) is closing at the $72.05 area. This occurred after the trading pair posted a bearish momentum at the start of trade on February 08. During the same period, the 50-day MA (Moving Average) stood at the $72.72 position as well. Meanwhile last technical indicator for the LTC/USD pair which is the RSI (Relative Strength Index), stood at the 32.94 level as of when this content was published.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.