Litecoin Hits Barrier At $68 As It Restarts Its Sideways Move

Azeez Mustapha


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Key Highlights
LTC price ranges between $60 and $70 price levels
Litecoin faces rejection at $68

Litecoin (LTC) Current Statistics
The current price: $68.08
Market Capitalization: $5,717,988,899
Trading Volume: $237,509,947
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis January 28, 2024
Litecoin (LTC) is trading below the moving averages as it restarts its sideways move. Following the January 3 price drop, buyers failed again to keep the price above the moving average lines. The cryptocurrency price has been repelled twice since breaking above the moving average lines.

The crypto asset is currently valued $67 as of this writing. Litecoin is currently trading in a range of $60 to $70, as buyers have failed twice to sustain the price above the moving average lines. On the upside, if the crypto price breaks above the moving average lines, Litecoin will begin to gain momentum.

The altcoin will also trade in the bullish trend zone, approaching the previous high of $76.

Litecoin Hits Barrier At $68 As It Restarts Its Sideways Move
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
LTC price bars are below the moving average lines but are trending upward. Selling pressure will return if the price is rejected at the moving average lines. The moving average lines have remained horizontal due to the prolonged sideways trend.

Litecoin is correcting upward while in a bearish trend zone as it restarts its sideways move. The cryptocurrency’s price ranges from $60 to $70. During the January 23 price drop, the altcoin fell and found support above its lower price range.

The crypto signals have remained range-bound due to the cryptocurrency’s ongoing sideways trend. The current rise may be rejected at the 21-day SMA or hit resistance near $70.

Litecoin Hits Barrier At $68 As It Restarts Its Sideways Move
LTC/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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