Litecoin Remains Stationary as It Holds above $72

Azeez Mustapha


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Key Highlights
LTC price remains stable at $72
The crypto asset risks decline to the bearish trend zone

Litecoin (LTC) Current Statistics
The current price: $72.51
Market Capitalization: $6,092,262,398
Trading Volume: $394,116,866
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20

Litecoin (LTC) Price Analysis December 15, 2023
Litecoin (LTC) has fallen below the 21-day simple moving average (SMA) as it holds above $72. Selling pressure may persist if the bears break below the moving average lines. On the downside, if the altcoin falls and breaches the present support at $70, it will return to the prior range bound zone.

Litecoin will decline and begin a range-bound move between $60 and $70 in price. Litecoin will stay in the positive trend zone between $70 and $80 if the $70 support level holds. The altcoin is now selling at $72 at the time of writing.

Doji candlesticks are present, which means that price movement is now minimal.

Litecoin Remains Stationary as It Holds above $72
LTC/USD – Daily Chart

Litecoin (LTC) Technical Indicators Reading
Litecoin has moved between the moving average lines due to its recent decline. The cryptocurrency asset might have to shift between the moving average lines for a few days. The price of Litecoin will rise if the bearish momentum rises above the 21-day SMA once more.

The price movement looks shaky above the moving average lines.

Litecoin has failed to restart its uptrend since the end of the decline on August 17 as it holds above $72. Doji candlesticks have dominated the price movement. The price movement has remained stationary as a result of these candlesticks. Since the December 11 drop, Litecoin has been constant at $72.

Litecoin Remains Stationary as It Holds above $72
LTC/USD – 4-hour Chart

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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.

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