Litecoin Encounters the $98 Barrier but Continues Its Ascent

Key Highlights

Litecoin restarts its rally
The crypto asset targets the $100 high

Litecoin (LTC) Current Statistics

The current price: $89.41
Market Capitalization: $6,725,658,870.77
Trading Volume: $1,281,816,781.62
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis Number 22, 2024

Litecoin (LTC) price has regained a bullish trend as bulls breach the overhead resistance at $76 and continues its ascent. In the previous price action, Litecoin was range bound between $60 and $76 price levels. On November 10, the resistance of $76 was broken, causing the altcoin to rally to the high of $98. However, Litecoin declined sharply as it faced stiff rejection at the recent high. The crypto asset fell below $81 as bulls bought the dips.

The bullish trend resumed once the altcoin dipped above the breakout level of $76. On the upside, Litecoin has the potential for more upward movement if the current barrier is broken. The cryptocurrency asset will hit its previous highs of $105 and $110 if the present barrier is broken. Litecoin is currently worth $87.

Litecoin (LTC) Technical Indicators Reading

Both charts show crypto price bars above the moving average lines, indicating a bullish trend. The 21-day SMA is higher than the 50-day SMA, suggesting that the altcoin will continue to grow. The horizontal moving average lines are now sloping higher. Doji candlesticks have appeared while the price movement remains stable.

What Is the Next Move for Litecoin

Litecoin is in a sideways trend after encountering resistance at $98 but continues its ascent. The price bars slope below and above the moving average lines. The upward trend will begin as price bars remain above the moving average lines. Meanwhile, the cryptocurrency signal is good, with the altcoin hovering above the moving average lines.

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