The Latest Price Analysis of Litecoin (LTC)
Theย mostย recent price analysis shows that Litecoin (LTC) is asย ofย now trading in a horizontal trend over the $62 levelย ofย support. The 21-day line Simple Moving Average (SMA) has slowed down the uptrend and is acting as a resistance line. On August 29, LTC rallied but was rejected by the 21-day line SMA, resulting in a low of $61. Asย ofย now, LTC/USD is consolidating between $61 and $64 in a narrow range.
If this range is broken, the digitalย currency value will transition into a trend. A break over the 21-day line SMA will signal a positiveย trend momentum, extending to the 50-day line SMA and starting an uptrend. Conversely, a price breakout indicates a downtrend resumption, with the altcoin sliding back to its previous low of $53.
Litecoin Indicators Analysis
The price of Litecoin has remained stable at the 32 level of the Relative Strength Index (RSI) of period 14, indicating bearish exhaustion. The market has continued to fall below the moving average lines, and the bearish momentum has stalled below the daily stochastic reading of 80.
Technical Indicators
Resistance levels for Litecoin are $100, $120, and $140, while support levels are $60, $40, and $20.
Whatโs Next for Litecoin?
The horizontal trend will continue as long as doji candlesticks dominate the market action. The LTC price is asย ofย now returning to the lower price range after stalling at $64, with the decline slowing down. If theย present resistance is broken, Litecoin will rise over the moving average lines, indicating a positive momentum.
Hot Take:
Theย present price analysis impliesย that Litecoin is trading in a horizontal trend, with itsย price consolidating between $61 and $64. The altcoin is facing resistance from the 21-day line SMA, but a breakout over this level could signal the start of an uptrend. On the other hand, a price breakout would indicate a resumption of the downtrend. Overall, it isย crucialย to monitor the support and resistance levels for Litecoin and watch for any wholeย lotย of price movements that could indicate a shift in trend.
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