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Key Highlights
LTC rebounds above the $65 support
LTC/USD targets the previous high of $76
Litecoin (LTC) Current Statistics
The current price: $69.63
Market Capitalization: $5,848,947,583
Trading Volume: $291,782,021
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20
Litecoin (LTC) Price Analysis November 24, 2023
The price of Litecoin (LTC) is rising as it challenges the resistance at $70. The crypto asset recovers and breaks above the 50-day simple moving average, but remains below the 21-day simple moving average. At the time of writing, the altcoin is trading at $69.
On the upside, if buyers can break above the barrier at $70 or the 21-day SMA, LTC/USD will rise to its prior high of $76. The altcoin rose to a high of $76 in the last price action but was repulsed. The market will achieve a high of $85 if the barrier at $76 is breached .
Today, the altcoin is rising, but the bullish momentum is running into resistance near $70 and the 21-day simple moving average. It seems conceivable that Litecoin may trade sideways for a few days if buyers are unable to break past the present high.
Litecoin (LTC) Technical Indicators Reading
The price bars were below the moving average prior to the most recent price increase. Following the recent breakout, the price of LTC is currently trading between the moving average lines. The implication is that selling pressure has abated, but the crypto is likely to trade in a range between the moving average lines.
Conclusion
Litecoin rebounds from its previous downturn but challenges the resistance at $70. If buyers are unable to break past the resistance level of $70, the altcoin will continue in the $60 and $70 price levels.
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