Litecoin (LTC) price has fallen below the moving average lines but is finding support above the 50-day SMA or the $77 low. LTC price analysis by Coinidol.com.
Long-term outlook for Litecoin price: bearish
The cryptocurrency is currently trading above the 50-day SMA but below the 21-day SMA. The bulls have halted the price slide above the 50-day SMA but could not sustain their bullish momentum above the 21-day SMA. The current LTC price stands at $85.48.
The cryptocurrency is rising as it reaches the 21-day moving average. If the buyers are successful, the altcoin will rise above the 21-day SMA and reach its previous highs of $94 and $105 respectively. However, if the bears take advantage and breach the 50-day SMA, the altcoin will fall to a low of $70.
Analysis of Litecoin indicators
Litecoin has been between the moving averages since March 19, 2024. This means that the altcoin will resume its fluctuation for a few days. Nevertheless, neither the bulls nor the bears have managed to surpass the 21- or 50-day SMAs. On the 4-hour chart, the price bars have dropped below the moving average lines, indicating a downtrend.
Technical indicators
Resistance levels: $100, $120, $140
Support levels: $60, $40, $20
What’s the next move for Litecoin
Litecoin’s slide has slowed above $77 as it resumes its uptrend. Nevertheless, the 21-day SMA or resistance at $85 has halted the uptrend. The altcoin will continue its trend after breaking the moving average lines. In the meantime, Litecoin will continue to fluctuate within a range.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://coinidol.com/litecoin-resumes-trading-range/
- :has
- :is
- :not
- 19
- 2024
- 21
- 45
- 48
- 900
- a
- above
- ADvantage
- After
- Altcoin
- an
- analysis
- and
- ARE
- AS
- At
- author
- average
- bars
- BE
- bearish
- Bears
- been
- before
- below
- between
- breach
- Breaking
- Bullish
- Bulls
- but
- buy
- buyers
- by
- Chart
- Coinidol
- COM
- continue
- could
- cryptocurrency
- Current
- Currently
- daily
- Days
- do
- dropped
- Endorsement..
- Fall
- Fallen
- few
- finding
- finds
- fluctuate
- fluctuation
- For
- Forecast
- funds
- Have
- Highs
- However
- HTTPS
- if
- in
- indicating
- info
- investing
- IT
- ITS
- jpg
- levels
- lines
- Litecoin
- Litecoin price
- long-term
- Long-term Outlook
- Low
- LTC
- ltc price
- managed
- March
- means
- meantime
- Momentum
- move
- moving
- moving average
- Neither
- Nevertheless
- next
- nor
- of
- on
- Opinions
- or
- Outlook
- personal
- plato
- Plato Data Intelligence
- PlatoData
- previous
- price
- Price Analysis
- range
- reach
- Reaches
- readers
- Recommendation
- research
- Resistance
- resume
- Rise
- rising
- s
- sell
- should
- since
- Slide
- slowed
- SMA
- SMAs
- stands
- successful
- support
- surpass
- Take
- that
- The
- their
- this
- to
- Trading
- Trend
- uptrend
- viewed
- What
- will
- within
- zephyrnet