Litecoin Advances but Encounters Resistance at $76

Azeez Mustapha


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Key Highlights
LTC price has returned to the $76 overhead resistance
Litecoin is now in a range

Litecoin (LTC) Current Statistics
The current price: $71.28
Market Capitalization: $5,983,674,980
Trading Volume: $824,196,161
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis January 13, 2024
Litecoin’s (LTC) price has increased after falling on January 3 but encounters resistance at $76. First, bulls bought the dips as the altcoin remained above the $64 support. The altcoin recovered and broke above the moving average lines on January 8.

The positive momentum peaked at $77 before reversing. The bullish momentum could not be maintained by buyers above the $76 overhead resistance. The overhead resistance has not been breached since November 6. Litecoin has since retraced above the moving average lines after being rejected at the most recent high.

The altcoin is expected to start bouncing between the 21-day SMA and the resistance at $76 if the current support holds. LTC/USD is now selling at $72.03 as of this writing.

Litecoin Advances but Encounters Resistance at $76
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Following a recent peak, Litecoin has returned to the area of positive trend. The price of the cryptocurrency asset is currently between $70 and $76. If buyers manage to break above the resistance level at $76, Litecoin’s upward momentum will continue.

If not, the market will keep advancing above the moving average lines in a sideways manner.

Litecoin has returned to the bullish trend zone but encounters resistance at $76. The crypto asset is now in the range between $70 and $76 price levels. On the upside, if buyers overcome the resistance at $76, Litecoin will resume upside momentum.

Otherwise, the market will continue its sideways move above the moving average lines

Litecoin Advances but Encounters Resistance at $76
LTC/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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