Grayhood, a trader for encryption, said at X that Litecoin is currently witnessing a huge trend, focusing on the constant weakness in price movement. Over the past 24 hours, LTC has decreased by 2.8 %, and candle plans reflect a noticeable declining movement.

As shown in the graph that he referred to, LTC started a day about $ 89.00, but it faced a sharp decrease, as it decreased to $ 87.00 before a summary recovery management to $ 88.50. However, the price has since decreased to 84 dollars, indicating the constant pressure pressure in the short term.

The momentum is fading: RSI drifted towards excessive lands

According to Grayhooood, current technical indicators indicate that Litecoin may face additional aspect, while aligning multiple standards to support short -term hippocampus. One of the basic indicators of focus is the RSI, which appears to be drifting towards the sales lands.

While such a move can hint to a possible bounce, Grayhood warns that it also indicates a feeling of aid in the market. Outside of the relative power index, momentum volatile such as the Stoxicc Index and the CCI index (CCI) also draws a bleak picture.

These tools are usually used to measure market repercussions and the strength of continuous trends. In this case, both tend towards more landmarks if a strong upper bullish stimulus does not appear, especially since prices are struggling to adhere to the level of support of $ 87.

The short -term decrease in contrast

The analyst also highlighted the mixed outlook of the moving Litecoin averages, indicating the presence of a market that has been caught between weakness in the short term and long -term capabilities. In the short term, the shortest averages flash strong signals. This is driven by the last negative negative performance of LTC, with a decrease of -9.0 % over the past week and a decrease of -12.5 % in the past two weeks, and a clear picture of the growing landfill and continuous sale pressure.

However, long -term moving averages tell a different story. Despite the recent setbacks, Litecoin recorded 2.3 % profit over the past year, maintaining a long -term trend technically. This difference indicates that although short -term traders may respond to immediate fluctuation and weakness, long -term investors still see value originally, especially if the conditions of the broader market stabilize or improve.

However, the broader market morale currently tends, tends to Litecoin’s inability to maintain major support levels amid the last price fluctuation. Even with long -term growth provides a degree of optimism, the prevailing trend is defined by downside and uncertainty. Until short -term indicators start compatible with the long -term bullish structure, Litecoin may continue to face a difficult environment.