The price of Litecoin (LTC) has fallen by 5.15% over the last 24 hours, showing a general downward trend by the end of the week.
Daily Chart Decline
On the hourly chart, the price of LTC is far from the support and resistance levels. As most of the daily ATR has been passed, sharp moves are unlikely to happen soon. CITE_NA: "The market is mostly bearish by the end of the week, according to CoinMarketCap."
Volume Analysis
The trading volume keeps falling, suggesting the likelihood of ongoing sideways trading around the $120 zone. Significant shifts are unlikely under current low-volume conditions.
Weekly Forecast
On the weekly chart, the situation is similar to the daily snapshot. If the candle closes around the current prices, traders are likely to witness consolidation in the range of $110-$120.
The current situation in the Litecoin market indicates weak activity and the likely consolidation of prices in the near future, with the range of $110-$120 as the most likely scenario.
