The Price of Litecoin (LTC) is Struggling to Maintain Momentum
Litecoin (LTC) has faced rejection at $110 and is currently trading below the moving average. Here is a detailed analysis of the current price trends and indicators to help you navigate the volatile cryptocurrency market.
Long-Term Forecast for Litecoin Price: Bullish Trend
- The cryptocurrency has been following a pattern of higher highs and higher lows, indicating a potential uptrend.
- If Litecoin manages to rise above the moving average lines, it could retest the resistance level at $110.
- A successful break above $110 could push Litecoin to a new high of $144, while a drop below the 21-day SMA might see it return to $77.
- Currently, Litecoin is priced at $97.76.
Litecoin Indicator Analysis
Despite a recent dip, Litecoin has bounced back above the moving average lines, suggesting a continuation of the upward trend. However, on the 4-hour chart, the price bars are below the moving average lines, indicating a challenging market.
Technical Indicators
- Resistance levels: $100, $120, $140
- Support levels: $60, $40, $20
What’s Next for Litecoin?
Litecoin is currently bearish above its moving average lines but showing signs of an upward correction. Doji candlesticks on the 4-hour chart are slowing down the price movement, with strong buying activity near the current support level.
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