Litecoin Slides Down but Fails to Jump the $70 Hurdle

Key Highlights

Litecoin consolidates above $65
The altcoin continues its sideways move

Litecoin (LTC) Current Statistics

The current price: $66.79
Market Capitalization: $5,611,838,405
Trading Volume: $255,485,760
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis September 24, 2024

Litecoin’s (LTC) price has recovered from its decline but failed to jump the $70 hurdle. Litecoin is trading in a range between $60 and $70. Today, the cryptocurrency price broke above the moving average lines and retested the barrier level. After encountering resistance, the altcoin retraces towards the moving averages.

Buyers have been unable to maintain bullish momentum above the moving average lines and the $70 barrier throughout the last month. Every time the altcoin turns down from the resistance level, it falls below the moving average lines. The altcoin has plunged to a low of $65. The cryptocurrency asset is expected to continue its range-bound movement above critical support at $60.

Litecoin (LTC) Technical Indicators Reading

The price bars move both below and above the moving average lines. For the past month, the moving average lines have slanted horizontally, indicating a sideways trend. Doji candlesticks dominate the price bars, slowing down the price movement.

What Is the Next Move for Litecoin

Litecoin rebounds from its drop but fails to jump the $70 hurdle. The rise has been impeded by resistance near $70. The altcoin is sliding following a rejection of its previous high. Litecoin’s price has stabilized between $60 and $70. Meanwhile, the crypto signal remains range-bound, with the altcoin facing rejection at its recent high.

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