Litecoin (LTC) Is Fluctuating Between $100 and $120, Amidst Bullish Expectation

Key Highlights
Litecoin faces rejection at $124
The crypto now fluctuates between levels $100 and $120

Litecoin (LTC) Current Statistics
The current price: $109.54 
Market Capitalization: $7,193,886,66
Trading Volume: $8,962,542,598
Major supply zones: $120, $140, $160
Major demand zones: $90, $70, $50

Litecoin (LTC) Price Analysis December 24, 2020
Following the rejection at $124 resistance, LTC now fluctuates between $100 ad $120. The altcoin has retraced to the support above $100. On the upside, if the bulls sustain the current bullish momentum, the resistance at $124 will be broken. LTC will attain a new high of $140. Conversely, if the support fails to hold, and the price breaks below the $90 support, the coin will decline to $70 low.

Litecoin (LTC) Technical Indicators Reading
Despite the retracement, the price bars are above the SMAs which suggest an upward movement of the coin. The coin is below the 80% range of the daily stochastic. It indicates that the coin is in a bearish momentum. The SMAs are sloping upward indicating the upward move.

Conclusion
Litecoin is likely to make a further upward move. The Fibonacci tool has indicated an upward movement of the coin. On the December 19 uptrend, a retraced candle body tested the 61.8%Fibonacci retracement level. The retracement indicates that the crypto will reach level 1.618 Fibonacci extensions or the high of $157.57.


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