Cryptocurrency Analysts Predict Litecoin (LTC) Price Movement
Litecoin (LTC) is currently facing resistance at $75, causing the cryptocurrency value to decline to $73. The price of Litecoin is approaching its previous range between $58 and $70, with the potential for a continued rise if it retraces and finds support above the $70 mark. However, should it fall back below $70, the market will resume its range-bound movement.
Analysis of Litecoin Indicators
The price bars have recovered above the moving average lines, indicating regained bullish momentum. However, selling pressure may return if the price bars fall below these lines.
Technical Indicators
Resistance levels: $100, $120, $140
Support levels: $60, $40, $20
What’s Next for Litecoin?
If Litecoin remains above the moving average lines and breaks through the $75 resistance level, it could resume its uptrend. However, for now, the LTC price is bouncing below this resistance level.
Recent reports from October 31 indicate that upward momentum was halted on October 24 when Litecoin reached a high of $72 due to strong selling pressure.
Hot Take: Forecast for Litecoin’s Future
LTC is currently facing resistance at $75 but has the potential to continue rising if it finds support above $70. However, if it falls below this level, it may resume its range-bound movement. Watch for a breakout above $75 to signal a potential uptrend.
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