Key Highlights
Litecoin battles the $140 barrier
The altcoin commences a sideways move
Litecoin (LTC) Current Statistics -Stops at $125
The current price: $223.99
Market Capitalization: $107,341,303,931.99
Trading Volume: $4,229,918,691.16
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40
Litecoin (LTC) Price Analysis December 13, 2024
The price of Litecoin (LTC) has resumed its upward trend but stopped at $125. In the preceding rally, Litecoin rose from the bottom of the chart to a high of $147. However, the altcoin received a strong rejection, causing it to fall above the 21-day SMA. Today, bullish momentum has begun above the 21-day SMA, with the altcoin reaching a high of $120. The altcoin is rising as it approaches the resistance level of $140.
The resistance at $140 is the historical price level of February 7, 2022. On the upside, if the bulls overcome the current barrier, the altcoin will rally to the high of $280. Conversely, if buyers fail to breach the recent high, the altcoin will fluctuate above the 21-day SMA and the resistance at $140. Litecoin is worth $120 at the time of writing.
Litecoin (LTC) Technical Indicators Reading
On December 5, a lengthy candlestick wick points to the resistance zone. A lengthy candlestick wick implies strong selling pressure at a higher price. There are also long candlestick tails piercing the 21-day simple moving average. It suggests that the 21-day SMA exerts strong purchasing pressure. Litecoin is likely to trade in a range since the price bars on the 4-hour chart are caught between the moving average lines.
What Is the Next Move for Litecoin
On the 4-hour chart, Litecoin has slipped below the moving average lines but stops at $125. The altcoin is consolidating above the 21-day SMA but below the 50-day SMA. A price bounce above the 21-day SMA will boost the altcoin to new highs. The crypto signal is good, with the price remaining above the moving average lines.
Make money without lifting your fingers: Start using a world-class auto trading solution.
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.
