Litecoin Is In A Sideways Trend As It Revisits Its $110 High

Key Highlights
LTC is in a narrow range above the $95 support
Litecoin regains bullish momentum

Litecoin (LTC) Current Statistics
The current price: $96.86
Market Capitalization: $8,138,798,768
Trading Volume: $517,458,383
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis April 11, 2024
Litecoin’s (LTC) price recovers from its recent downturn as it revisits its $110 high. On March 29, 2024, Litecoin rose to a high of $110 but was rebuffed. On April 1, the price spike encountered resistance at $110, triggering a sideways trend.

The crypto asset is trading above the 21-day SMA but below the resistance level of $110. If the resistance at $110 is breached, the current rise will continue to $115. However, the resistance level of $115 has not been broken since July 3, 2023. Litecoin will fall if the bears break the 21-day SMA support.

The negative trend will either continue above the 50-day SMA support or approach a low of $90 if the 21-day SMA support is broken. Litecoin is now worth $96.73.

Litecoin (LTC) Technical Indicators Reading
Although the price bars are above the moving average lines, the bears have breached the 21-day SMA. If the bears succeed, Litecoin might fall even more. The cryptocurrency will decrease and move between the moving average lines. The altcoin may fall because the price bars are below the moving average lines.

Conclusion
Litecoin has been in a sideways trend since the end of the rally on March 29 as it revisits its $110 high. The altcoin has traded between $95 and $110. The crypto is currently trading above the $95 support level, indicating a bullish trend. The crypto signal will be positive if the current support holds.

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