Litecoin Dips above $60 and Is in a Range

Key Highlights
LTC price is in a tight range
LTC/USD will continue its range

Litecoin (LTC) Current Statistics
The current price: $62.92
Market Capitalization: $5,285,211,004
Trading Volume: $203,296,175
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis October 20, 2023
Litecoin’s (LTC) price is declining as it dips above $60 and is in a range. The crypto has reached a high of $62 today. On the plus side, if buyers push the altcoin to its prior high, it will be rejected by the moving average lines or the $66 barrier.

For example, the rally on October 16 was repulsed at a high of $66. The altcoin’s price range has been reduced to between $60 and $66.During the price action, the altcoin fluctuated between $60 and $70. LTC/USD price fell to $60 today after being rejected at the $70 resistance zone.

At the time of writing, the cryptocurrency was trading at $62.77. The altcoin is now restricted to a small range.

Litecoin (LTC) Technical Indicators Reading
The moving average lines are horizontally flat rather than in opposite directions. Since August 17, the altcoin has been on a sideways trend. The cryptocurrency price has previously fluctuated below and above the moving average lines.

Today, the price bars are below the moving average, indicating that the coin has reached bullish exhaustion.


Conclusion
Since October 12, Litecoin has been declining as it dips above $60 and is in a range. More price increases are unlikely as a result of the October 16 rejection. On the downside, the present support level has been in place since August 17.

Litecoin will trade in a constrained range as the altcoin consolidates at the bottom of the chart.

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