Litecoin (LTC) Resumes a Sideways Move, Unable to Break Resistance at $264

13 April 2021 | Updated: 13 April 2021

Key Highlights
Litecoin rallies to $264 high but faces rejection at the recent high
The altcoin fluctuates between levels $244 and $264

Litecoin (LTC) Current Statistics
The current price: $249.05
Market Capitalization: $20,921,225,185
Trading Volume: $5,112,701,631
Major supply zones: $200, $220, $240
Major demand zones: $100, $80, $60

Litecoin (LTC) Price Analysis April 13, 2021
Litecoin bulls have consistently pushed LTC on the upside as the market reached a high of $246. The current uptrend has been stalled below the recent high as the market resumed sideways move below the recent high. The altcoin fluctuates between $244 and $264. On April 11 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement gives us the impression that the market will rise to level 1.618 Fibonacci extension or the high of level $291.23.

LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
LTC has risen to level 63 of the Relative Strength Index period 14. It indicates that the crypto is in the uptrend zone and is above the centerline 50. Litecoin has a bullish crossover. The 21-day SMA crosses above the 50-day SMA. The 21-day SMA and 50-day SMA are sloping upward indicating an uptrend.

LTC/USD – 4 Hour Chart

Conclusion
Litecoin uptrend has been interrupted as the altcoin resumed a sideways move. The uptrend will resume when price breaks the $265 resistance level. On April 12; a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that the market will rise to level 1.618 Fibonacci extension or the high of level $289.64.

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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.