Key Highlights
Litecoin plunged to a $80 low
Litecoin continues its range-bound move
Litecoin (LTC) Current Statistics
The current price: $105.47
Market Capitalization: $7,963,237,344.85
Trading Volume: $767,995,607.54
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40
Litecoin (LTC) Price Analysis February 5, 2025
The price of Litecoin (LTC) has held below the moving average lines, exhibiting range-bound behavior above $100. Since December 20, 2024, the bulls have been defending the crucial support. The bears hit the low of $80 on February 3 after breaking through the $100 key support. However, the bulls simultaneously purchased the dips and recovered above the $100 support level.
The moving average lines have been impeding the upward trend. If buyers maintain the price above the moving average lines, Litecoin will rise to a high of $135. The altcoin will return to its $141 peak. However, the current range of $100 to $140 will persist if the levels don’t change.
Litecoin (LTC) Technical Indicators Reading
The moving average lines are still above the price bars. The bears broke below the moving average lines on February 3 and fell precipitously to a low of $80. Strong buying pressure above the $80 support is indicated by the extended candlestick tail pointing at it. Since the altcoin is wedged between the moving average lines on the 4-hour chart, it will keep moving in a range-bound manner.
What Is the Next Move for Litecoin
On the 4-hour chart, Litecoin is locked between the moving average lines, demonstrating range-bound behavior at $100.The price of the cryptocurrency is below the 50-day SMA resistance but above the 21-day SMA support. After retracing, the cryptocurrency price remained above the 21-day SMA. It is anticipated that Litecoin will increase and surpass the 50-day SMA. The altcoin will breach the 50-day SMA and reach a high of $134.
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