Litecoin Price Analysis: LTC/USD bearish after correcting 4.70 percent downwards

TL;DR Breakdown Litecoinprice analysis is bearish for today.LTC/USD continued to retrace overnight. Today’s Litecoin price analysis is bearish after a 4.70 percent retracement that left the bulls hanging near the $165 support. LTC/USD buyers staged a strong rejection at the $169 mark, thereby rejecting further downsides.  The overall cryptocurrency market is trading bearishly with market leaders BTC and ETH trading 1.00 and 0.48 percent down from yesterday’s price. The worst performer is C98 after losing more than 24 percent on the 24-hour chart.  Litecoin price movement in the last 24 hours: Litecoin retraced lower LTC/USD traded in a range of $167 – $180, indicating moderate volatility over the last 24 hours. Trading volume has decreased by 24.96 percent and totals $6.93 billion. Meanwhile, the total market capitalization trades around $83.26 billion, resulting in a market rank of 3rd place. LTC/USD 4-hour chart: Should we expect further retracement or an uptrend?  On the 4-hour Litecoin price analysis chart, we can see the price action for LTC/USD  finding support at the $170  mark after a retracement from the daily high of $180. Litecoin price action has seen a rapid advance over the past month. After establishing a new swing low above the $190 mark, LTC/USD rallied by almost 60 percent, with the last swing high set below slightly below the $200 mark.  Source: Tradingview The rapid increase i...