Litecoin Remains Above $77 as It Resumes Consolidation

Key Highlights
LTC price revisits previous low of $77
Litecoin is in a range-bound move

Litecoin (LTC) Current Statistics
The current price: $83.79
Market Capitalization: $7,038,091,663
Trading Volume: $318,362,914
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis April 21, 2024
Litecoin’s (LTC) recovery has taken a hit after falling below the moving average lines as it resumes consolidation. The cryptocurrency asset fell and reached its prior low of $77. On April 13, Litecoin fell to a low of $70, yet bulls purchased the dips. The cryptocurrency corrected upward above the $77 support level and continued consolidation above it.

Litecoin is currently trading above the $77 support but below the moving average lines. The selling pressure has abated, and the altcoin has resumed its upward trend. The altcoin is now valued at $84.21 as of writing. Nonetheless, the rising trend is hampered by the $86 high.

Litecoin will resume a bullish trend if buyers sustain the price above the moving average lines or the resistance level at $92. The altcoin will surge above the previous high of $110.

Litecoin (LTC) Technical Indicators Reading
Since the April 13 price drop, the moving average lines have been sloping horizontally, indicating a sideways trend. On the 4-hour chart, the price bars are above the moving average lines, but the upward trend is stifled near the $86 high. The uptrend will resume if the altcoin trades in the bullish trend zone.

Conclusion
On the 4-hour chart, Litecoin resumes consolidation above the $77 support level following the downtrend’s termination. The crypto’s price ranges from $77 to $86. The altcoin has failed to restart its upward trend due to an early obstacle at $86.

Currently, the crypto signal is fluctuating as the altcoin faces rejection at its recent peak.

You can purchase Lucky Block here. Buy LBLOCK

NOTE: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results