Litecoin Keeps Rising as It Revisits the $68 Barrier

Key Highlights

Litecoin maintains its critical support at $60
The altcoin is trapped in a range

Litecoin (LTC) Current Statistics

The current price: $66.57
Market Capitalization: $4,999,861,791
Trading Volume: $4,999,861,791
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis October 14, 2024

Litecoin’s (LTC) price has returned above the critical support level of $60 as it revisits the $68 barrier. Since October 1, pricing change has been limited to the $60-$68 price range. Currently, the altcoin is trading in a tight range between moving average lines. It trades above the 50-day SMA support and below the 21-day SMA resistance line.

In other words, Litecoin currently trades between $64 and $68. Today, it is rising as it nears the 21-day SMA resistance. The crypto asset will resume its upward trend when the bulls break above the 21-day SMA and the resistance mark at $68. This will push the altcoin to a high of $72. The altcoin will maintain its range if it fails to break the recent high.

Litecoin (LTC) Technical Indicators Reading

Litecoin is trading between the moving average lines following the October 10 price drop. The bullish trend will restart whenever the price breaks above the 21-day SMA resistance. The cryptocurrency will lose value if the price drops below the 50-day SMA.

What Is the Next Move for Litecoin

On the four-hour chart, Litecoin has resumed its horizontal trend as it revisits the $68 barrier. The price bars are above the moving average lines, although the price has fluctuated below and above them. The price movement is likely to be limited in its range due to the formation of Doji candlesticks. The crypto signal is range-bound because it is contained between the moving average lines.

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