Litecoin Recovers From Its Earlier Loss and Rises to $170

Key Highlights

Litecoin continues its rally to the high of $147
The altcoin has regained a bullish trend

Litecoin (LTC) Current Statistics

The current price: $114.27
Market Capitalization: $8,602,766,211.03
Trading Volume: $2,346,576,912.01
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis December 10, 2024

The price of Litecoin (LTC) slips above the moving average lines and rises to $170. The digital asset is on an upward trend as it recovers from its earlier drop. The altcoin peaked at $147 before declining. The altcoin plunged as low as $100 before starting its upward trend. If the current support holds, Litecoin will trade above $100 while remaining below the barrier of $140.

On the plus side, Litecoin will soar to $170 if the current barrier is breached. On the other hand, the altcoin will continue to trade in a range above the present support and below the last high, when it failed to break the $140 barrier.

Litecoin (LTC) Technical Indicators Reading

LTC price retraces and finds support above the 21-day SMA. This signals that the bullish trend has returned. On December 9, a long candlestick tail broke through the 21-day SMA before pulling back. The extended candlestick tail implies strong buying above the 21-day SMA support.

What Is the Next Move for Litecoin

On the 4-hour chart, Litecoin is below the moving average lines but rises to $170. The drop has ended, and the altcoin has resumed its upward journey above the current support. Currently, the cryptocurrency asset will be pushed to trade above the present support while current trends are determined. The crypto signal is positive because Litecoin trades in the bullish trend zone.

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