Litecoin Is In Range Due To Uncertainty Among Buyers And Sellers

Key Highlights
Litecoin faces the barrier at $74
The crypto asset continues its range

Litecoin (LTC) Current Statistics
The current price: $71.13
Market Capitalization: $5,974,652,235
Trading Volume: $232,266,218
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40
 
Litecoin (LTC) Price Analysis July 26, 2024
Litecoin’s (LTC) price has gained pace after breaking above the moving average lines, however, there is uncertainty among buyers and sellers. The bulls tested the 50-day SMA three times but were unsuccessful. The altcoin dipped below the 21-day SMA, but bulls purchased the dips, bringing the price back between the moving average lines.

Since July 13, the cryptocurrency has been caught and range-bound between the moving averages. For the past two weeks, bulls and bears have failed to bring the market back on track. Litecoin will trend if the 21-day SMA support or the 50-day SMA resistance is broken. When the 50-day SMA resistance is breached, Litecoin will surge to highs of $78 and $89, respectively.

When the bears break through the 21-day SMA support, the situation reverses. The altcoin will drop to a low of $62. Meanwhile, Litecoin is currently valued at $71.

Litecoin Indicator Analysis  
Litecoin has become caught between the moving average lines. The price bars are between the moving average lines, causing them to vary within a narrow range. The altcoin will trend if the price falls below or above the moving average lines. On the 4-hour chart, the price bars have returned to the moving average lines.

What Is the Next Move for Litecoin
Litecoin has remained range-bound, trading between the moving average lines due to uncertainty among buyers and sellers. On the 4-hour chart, the altcoin is consolidating above the critical support of $71, but below the resistance of $73. Doji candlesticks dominate the price bars, indicating hesitation among buyers and sellers. The cryptocurrency signal changes as it moves between the moving average lines.

Make money without lifting your fingers: Start using a world-class auto trading solution

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.