Key Highlights
Litecoin faces rejection at the $120 high
The altcoin hovers above the $100 critical support.
Litecoin (LTC) Current Statistics
The current price: $101.41
Market Capitalization: $7,644,873,275.26
Trading Volume: $657,989,591.1
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40
Litecoin (LTC) Price Analysis January 9, 2025
The price of Litecoin (LTC) has stayed range-bound, above the $100 support and below the $120 resistance as it corrects higher. Litecoin should have dropped to the low of $58 or level 2.0 of the Fibonacci extension based on the price signal. On December 20, 2024, the altcoin fell to a low of $86 as bulls purchased the dips. The support is being held by the bulls as Litecoin has returned above $100.
On the upside, the resistance at $120 and the moving average lines have twice repulsed the bullish momentum. On the negative, the altcoin will drop to its previous low of $86 if the bulls break through the $100 support. At the time of writing, the altcoin’s worth was $102.33.
Litecoin (LTC) Technical Indicators Reading
On both charts, the price bars are situated beneath the moving average lines. The price of cryptocurrency is currently above the $100 critical support. If the crucial support at $100 is broken, Litecoin will decline. The 21-day SMA is below the 50-day SMA, indicating a bearish crossover of the moving average lines.
What Is the Next Move for Litecoin
Litecoin is declining below the moving average lines on the 4-hour chart but corrects higher. The altcoin fell to the $100 support on January 8 and then recovered. The price of the cryptocurrency is currently within a fairly narrow range, between the $100 support and below the 21-day SMA resistance. The bulls have consistently maintained the current level of support as it corrects upward.
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