Litecoin Faces a Drop as It Fails to Sustain Above $76

Key Highlights
LTC price is stuck at $74
LTC/USD has commenced a sideways trend

Litecoin (LTC) Current Statistics
The current price: $75.04
Market Capitalization: $6,302,953,044
Trading Volume: $383,426,474
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis November 13, 2023
The price of Litecoin (LTC) has remained above the moving average lines as it fails to sustain above $76. On November 6, Litecoin achieved a high of $74 but could not continue to rise. With long candlestick tails and wicks, the cryptocurrency’s price wavered below the recent peak.

The bulls smashed the recent high on many occasions but were unable to maintain the positive momentum. Litecoin has been trading in a narrow range between $70 and $76 since November 6. On the downside, Litecoin faces a drop if the bears violate the 21-day SMA or the $70 support.

LTC/USD will consequently drop to a low of $66. Nonetheless, if the resistance levels of $74 and $76 are breached, Litecoin will resume its bullish trajectory.

Litecoin (LTC) Technical Indicators Reading
For the past week, Litecoin has been trading sideways following the disruption of the uptrend on November 6. The price bars on the 4-hour chart are bouncing below and above the moving average lines. The price bars are currently above the moving average lines, indicating that the price will rise.

Conclusion
LTC/USD is now trading at $74.06 as it fails to sustain above $76. Litecoin has been range-bound for the previous week due to its inability to regain bullish momentum above the $74 high. A price rebound will put Litecoin back into a positive trend.

You can purchase crypto coins here: Buy LBLOCK

NOTE: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results