Litecoin is under pressure and shakes: Can you find the foundation of less than $ 87?

GRAYHOOOD, a crypto trader, said in X that Litecoin is suffering from weakness of weakness. In the last 24 hours, LTC has decreased 2.8%, and candlestick charts reflect noticeable downward exercises.

As shown in the chart he mentioned, LTC started about $ 89.00, but fell to $ 87.00 before managing a simple recovery to $ 88.50 in terms of rapid decrease. However, the price has since falling back to $ 84, indicating the short -term sales pressure.

Momentum Fade: RSI drifting in a bold area

According to GrayHood, current technical indicators may face Litecoin to face a bigger decline, and many indicators are aligned to support short -term prospects. One of the main indicators of the focus is the relative robbery index (RSI), which appears to be drifted in the overall acid area.

Such a move can suggest potential bounce, but Gray Hood has signed a signal in the market. In addition to the RSI, the exercise oscillation, such as probability loan indicators and the Commodity Channel Index (CCI), also draw a gloomy picture.

Such tools are generally used to measure the strengths of market reversal and ongoing trends. In this case, the price is especially difficult to increase the level of $ 87, so if a strong strong catalyst does not appear, it will include two propulsions.

LTC’s annual profit and short -term reduction

Analysts emphasized the mixed view from the moving average of Litecoin, suggesting a market between short -term weaknesses and long -term potential. In the short term, the average short period of time is a strong sales signal. They have been led by the negative performance of LTC, which have been decreased -9.0% in the last two weeks and -12.5% ​​over the last two weeks, and have been clearly drawn with weak momentum and continuous sales pressure.

But the long -term moving average tells a different story. Despite the recent frustration, Litecoin has recorded 2.3%of the last year, which has a long -term strong trend. This difference may be a short -term traders in response to immediate price volatility and weaknesses, but long -term investors may still see the value of assets, especially if a wide range of market conditions are stabilized or improved.

In other words, the wider market sentiment is weak, and we have measured the weight by not maintaining the main support level of Litecoin in recent price volatility. Even if long -term growth provides some optimism, the general trend is defined as downward pressure and uncertainty. Litecoin can continue to face challenging environments until short -term indicators begin to match the long -term strong structure.