Key Highlights
LTC price breaks out of the current range
LTC/USD is in an uptrend
Litecoin (LTC) Current Statistics
The current price: $74.41
Market Capitalization: $6,251,239,360
Trading Volume: $306,115,115
Major supply zones: $80, $100, $120
Major demand zones: $60, $40, $20
Litecoin (LTC) Price Analysis November 9, 2023
The price of Litecoin (LTC) has made a succession of higher highs and higher lows as it approaches the $86 mark. The uptrend started on October 19, with a low of $59. Litecoin is now trading at $74 at the time of writing.
Price movement has been delayed due to the existence of Doji candlesticks. Nonetheless, the price prognosis remains unchanged, with the altcoin reaching a high of $86. However, before reaching the new price level, LTC/USD will encounter some resistance near $85.
On November 6, the bulls broke and retested the $72 resistance level before resuming their upward trend. Previously, the altcoin’s price ranged between $60 and $72.
Litecoin (LTC) Technical Indicators Reading
The price of Litecoin has been slowly rising as the price bars remain above the 21-day SMA. The 21-day SMA provides support on the 4-hour chart as Litecoin rebounds to restart its rise. If the bears break below the 21-day SMA support, the uptrend will be disrupted or ended.
The 21-day and 50-day SMAs are rising, with the 21-day SMA acting as a support line.
Conclusion
Litecoin has restored a positive trend after two months of range-bound movement as it approaches the $86 mark. Nonetheless, due to the presence of Doji candlesticks, the present rally has been quite gradual. The present upswing is continuing, with the price reaching a high of $74.
You can purchase crypto coins here: Buy LBLOCK
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
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
