Litecoin Advances but Stops Short of the $100 Peak

Key Highlights

Litecoin has rallied as it reached the high of $106
Litecoin slides into a sideways trend

Litecoin (LTC) Current Statistics

The current price: $96.37
Market Capitalization: $7,251,283,090.33
Trading Volume: $561,663,516.83
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis November 29, 2024

Litecoin’s (LTC) price recovers bullish momentum but stops short of the $100 peak. Previously, the cryptocurrency’s price ranged between $60 and $76. The altcoin recovered and broke above the moving average lines. The bullish momentum broke through the resistance at $76 before pulling back to retest it.

The pullback indicates additional upward momentum in pricing. Litecoin has reached a high of $106, although it is currently trading below the resistance of $100. On the upside, a break above the current resistance level will send Litecoin to highs of $120 and $130. Meanwhile, the currency continues to rebound from its low point on the chart. Litecoin is now valued at $96.50.

Litecoin (LTC) Technical Indicators Reading

The horizontal moving average lines are sliding up. The 21-day SMA acts as a support line, allowing the cryptocurrency to bounce and continue its advance. On the 4-hour chart, Doji candlesticks appeared, causing the price movement to remain static.

What Is the Next Move for Litecoin

On the 4-hour chart, Litecoin is in an uptrend but stops short of the $100 peak. On November 23, buyers were unable to sustain the positive momentum above the $100 high. LTC price fell below the moving average lines and began a sideways trend above the $88 support but below the $100 resistance level. Meanwhile, the crypto signal is encouraging, with the altcoin trading in a bullish trend zone.

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