Litecoin Hits $86 and Resumes Its Range-Bound March

Key Highlights

Litecoin returns to the bottom price level
The crypto asset risks decline to $57

Litecoin (LTC) Current Statistics

The current price: $105.15
Market Capitalization: $7,918,182,847.96
Trading Volume: $1,426,932,398.72
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis December 21, 2024

Litecoin’s (LTC) price declines after reaching a high of $147 and resumes its range-bound march. Buyers were unable to sustain the positive momentum above the $140 level. The altcoin was repulsed, but it found support above the 21-day moving average line. However, the bulls and bears struggled above the 21-day SMA, giving the bears the upper hand. On December 19, Litecoin went below the moving average lines but was stopped by the 50-day SMA.

Litecoin trades above the 50-day SMA but below the 21-day SMA resistance level. According to the price prediction, Litecoin will continue to drop. On December 10, the downtrend’s retraced candle body tested the 50% Fibonacci retracement level. The retracement or correction suggests that LTC will fall to level 2.0 Fibonacci extension, or $57.83. Litecoin is currently worth $101.

Litecoin (LTC) Technical Indicators Reading

Following its recent drop, Litecoin has found itself caught between the moving average line. On the downside, if the bears break below the 50-day SMA support, Litecoin will fall to the expected price level. On the 4-hour chart, the price bars are below the moving average lines, indicating a downtrend.

What Is the Next Move for Litecoin

On the 4-hour chart, Litecoin declines below the moving average lines and resumes its range-bound march. The altcoin hit a low of $86 before rising. Litecoin is trading inside a range that includes the $80 support and below the moving average lines. The altcoin is correcting upward, towards the moving average lines. The positive trend will continue if the price breaks above the moving average lines. A rejection at the recent high will force Litecoin to move in a range below the moving average lines.

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