Litecoin price analysis: LTC rejected at $230, what’s next for the crypto?

TL;DR Breakdown Litecoin price analysis suggests retracement to the $210 markThe closest support level lies at $220LTC faces resistance at the $230 mark The Litecoin price analysis shows that the spike in Litecoin’s price has left the price action unstable at the $230 mark. While the market continues to observe a positive sentiment, the bulls show exhaustion suggesting a retracement before the rally continues towards the $250 mark.  The broader cryptocurrency market observes a mixed market sentiment as while most major cryptocurrencies record positive price movements, the movements have been small while many assets, including Ethereum, record losses. Major players include Filecoin and Ripple’s XRP, recording an 11.88 and a 6.80 percent incline, respectively.  Litecoin price analysis: exhausted bulls Technical indicators for LTC/USDT by Tradingview Across the technical indicators, the MACD is bullish, as expressed by the green histogram. However, the indicator has been showing a declining bullish momentum for the last 48 hours as the price action slowed after the spike from the $185 to the $215 mark. Nonetheless, the indicator remains bullish as LTC continued to rise until the recent rejection at the $230 mark. The EMAs are both moving upwards at press time, with the 12-EMA moving with a gentler slope as the price faces resistance at the $230.00 mark. The convergence suggests low buying pressure at the current time a...