Litecoin Retraces and Resumes Its Upward Ascent above $100

Key Highlights

Litecoin retraces above the $100 critical support
The crypto asset restarts its uptrend

Litecoin (LTC) Current Statistics

The current price: $116.69
 Market Capitalization: $8,804,658,168
 Trading Volume: $751,846,894.32
 Major supply zones: $100, $120, $140
 Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis January 24, 2025

Litecoin’s (LTC) price maintains a sideways pattern but resumes its upward ascent above $100. The cryptocurrency price has dropped and is still above the moving average lines. The overhead barrier at $140 has twice rejected price increases on the upside. On December 5, 2024, the altcoin was repulsed, and Litecoin fell significantly below the moving average lines, reaching a low of $86. Bulls purchased the dips, and the altcoin recovered above the $100 crucial support level.

The cryptocurrency asset maintained its range-bounded advance above the $100 support until recovering on January 14, 2024. Litecoin has retraced above the moving average lines after encountering overhead resistance at $140.The altcoin will increase again if it remains above the moving average lines. However, a break below the moving average lines will force Litecoin to fall below its prior low of $100.

Litecoin (LTC) Technical Indicators Reading

Following the market bounce on January 15, the price bars are now above the moving average lines. The cryptocurrency price is bouncing while remaining above the moving average lines. On the 4-hour chart, the price bars are below the moving averages. Litecoin will fall as it is rejected by the 21-day SMA. However, the arrival of the Doji candlestick will slow the downward trend in prices.

What Is the Next Move for Litecoin

Litecoin retraces and finds support above the key level but resumes its upward ascent above $100.The cryptocurrency price is rising as a new upward trend begins. On the 4-hour chart, the 21-day SMA is impeding the upward trend. In other words, a break above the moving average lines will indicate the return of the bullish trend. The crypto signal is optimistic, with the altcoin retracing and finding support above the $100 level.

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