Litecoin Retraces to Its Range but Remains above $82

Key Highlights
LTC price hovers above the $82 support
The crypto asset has maintained its range

Litecoin (LTC) Current Statistics
The current price: $83.70
Market Capitalization: $7,030,030,389
Trading Volume: $322,150,673
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis May 30, 2024
Litecoin is trading above the moving average lines but remains above $82. Following two failures at the $90 resistance zone, the bulls were unable to maintain their bullish trend above the moving average lines. On May 23, bulls and bears engaged in a price war in which the cryptocurrency’s price fell below the moving average lines, but bulls bought the dips.

LTC prices are gradually falling below the moving average lines. If the bears breach below the moving average lines, Litecoin will drop back to its prior low of $78. LTC/USD is now worth $83 at the time of writing.

Litecoin (LTC) Technical Indicators Reading
The altcoin has retraced, but the price bars remain above the moving average lines. The upward movement has been restrained by resistance at $89. The bears are threatening to drive the price down below the moving average lines. If the bears succeed in breaking below the moving average lines, Litecoin will fall even more.
 
Conclusion 
Litecoin is dropping below the moving average lines but remains above $82. The cryptocurrency has ended its negative run, falling sharply to a low of $80.51, and bulls have bought the dips. The bulls have halted the fall above the $73 level. The altcoin is now trading in a narrow range between $82 and $90.

The appearance of Doji candlesticks casts suspicion on both the upward and downward price movements. The crypto signal is fluctuating due to the creation of Doji candles.

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