Litecoin’s Bullish Surge Meets an Early Barrier at $94

Key Highlights
LTC price regains bullish momentum
Litecoin faces the barrier at $94

Litecoin (LTC) Current Statistics
The current price: $91.25
Market Capitalization: $7,664,634,867
Trading Volume: $7,664,306,233
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis March 26, 2024
Litecoin’s (LTC) price has risen above the 21-day SMA as it meets an early barrier at $94. The crypto asset was previously trading between the moving average lines. The bulls have had the upper hand since breaking above the 21-day SMA.

The altcoin is expected to rise to its prior high of $105. The upswing will encounter an early resistance at the high of $94. On March 3, the cryptocurrency was repelled at its high of $94 and fell quickly below the moving average lines. Today, Litecoin is soaring, approaching a high of $94.

On the upside, if the bulls break the initial $94 barrier, Litecoin will climb to its prior high of $105. If the coin is rejected, Litecoin will fall below the 21-day SMA. The coin will return to the previous range defined by the moving average lines.

Litecoin (LTC) Technical Indicators Reading
Following the current price rally, LTC has returned above the 21-day SMA. Before the price rebound, the price bars were in between the moving average lines. Today, the cryptocurrency will rise as the price returns above the moving averages.

The moving average lines are sloping upward, consistent with the current trend.

Conclusion
Litecoin has been recovering from its earlier downturn as it meets an early barrier at $94. The cryptocurrency asset is facing selling pressure at higher price levels. On March 11, Litecoin reached a high of $105 before being repulsed.

The altcoin dropped below the moving average lines, although it remained above the 50-day SMA. The crypto was caught between the moving average lines for more than a week. Today, the crypto signal is positive as it recovers above the moving average lines.

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