Litecoin Faces the $107 Barrier as It Begins Its Descent

Key Highlights

Litecoin faces the barrier at $107
The crypto risks decline to the bottom of the chart

Litecoin (LTC) Current Statistics

The current price: $105.77
Market Capitalization: $8,890,199,614.7
Trading Volume: $703,456,663.07
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis January 2, 2025

Litecoin’s (LTC) price declines below the moving average lines as it begins its descent. The bulls, however, have been defending the $100 support as buyers attempt to keep the price above the moving average lines. The moving average lines have impeded the upward trend. The bullish trend will resume when it breaks above the moving average levels. Litecoin will increase and re-visit the $130 mark.

The price indicator predicts that Litecoin will fall near the chart’s bottom. On the downside, Litecoin will drop to its prior low above $86 if the bears break through the existing support. The bearish momentum will continue until it reaches $58 or level 2.0 of the Fibonacci extension.

Litecoin (LTC) Technical Indicators Reading

The bulls are on the verge of breaking above the moving average lines, but the price bars are below them. The 4-hour chart’s moving average lines are horizontal due to the sideways move. The dominance of the Doji candlestick has restricted the amount of price movement.

What Is the Next Move for Litecoin

On the 4-hour chart, Litecoin is between $95 and $110 region as it begins its descent. Litecoin is correcting upward in the direction of the higher price range. Should it drop from the most recent peak, the range-bound movement will persist. On the downside, if the existing support is broken, the selling pressure will return.

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