Bulls could not preserve management of the market final week, and after touching a excessive of $103.38 on 18 April, the worth declined towards the US Greenback, touching a low of $89.06 immediately within the early Asian buying and selling session.

There’s a bearish engulfing sample under the $103.38 deal with on the H1 timeframe. It signifies the top of a bullish section and the beginning of a bearish section available in the market.

The MACD has crossed down its transferring common within the day by day timeframe. Additionally, Litecoin is buying and selling under its 100-hour easy transferring common, 200-hour exponential transferring common, and pivot degree of $91.04.

The relative power index is at 30.14, indicating very weak demand for Litecoin and the continuation of the promoting stress within the markets.

Litecoin stays under the entire transferring averages, that are giving a bearish sign at present market ranges of $90.37.

The STOCHRSI is signaling overbought market situations, which implies that the worth is predicted to say no within the quick time period.

The short-term outlook for Litecoin has turned strongly bearish.