Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, Happy reading!!

Litecoin (LTC) Analysis

Today, January 25, 2024, I will try to analyze the price movement of Litecoin technically.

SOURCE: TradingView

If we look at the price movement of LTC in general, we can see that LTC is in a very deep bearish phase. We can see this in the pattern of LTC price movements in the chart above where the candlestick tends to move downwards if we look closely.

SOURCE: TradingView

The first confirmation came from the candlestick movement crossing the Support Level at $100.68, which is still moving below that level.

SOURCE: TradingView

This is also confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.

SOURCE: TradingView

Further confirmation was also given by the ADX indicator with the presence of a cross between the two DI lines where the DI- the line moved above the DI+ line.

SOURCE: TradingView

Not to forget, the RSI indicator shows that there is an oversold phase in the LTC/USD market, we can prove this by moving the RSI line continuously to the Lower Band which is the lower limit of the RSI indicator.

Disclaimer: