Litecoin’s Surge Comes to a Halt at $130 as It Drops

Key Highlights

Litecoin reaches the historical price level of $130
The market has reached the overbought region

Litecoin (LTC) Current Statistics

The current price: $130.21
Market Capitalization: $9,800,258,556
Trading Volume: $2,182,054,720.74
Major supply zones: $100, $120, $140
Major demand zones: $80, $60, $40

Litecoin (LTC) Price Analysis December 5, 2024

Litecoin’s (LTC) price has continued to rise from the bottom of the chart, breaking above the moving average lines to a halt at $130 as it drops. The bullish momentum has reached a peak of $139.75. The cryptocurrency asset fell to a low above $130 and resumed fluctuating below its peak. The rise has stalled due to the $130 barrier. Since March 21, the $130 resistance level has not been broken.

Furthermore, Litecoin has entered the overbought sector of the market. The cryptocurrency asset bounces above the $130 support but below the $140 resistance level. As the Doji candlesticks appear, the price movement remains stable. Doji candlesticks represent traders’ indifference to the market’s direction. Litecoin is valued at $130 at the moment.

Litecoin (LTC) Technical Indicators Reading

On December 2, the candlestick displayed a bulging long candlestick wick, signaling significant selling pressure at the $140 high. The three candlesticks that followed revealed three bulging long tails, indicating significant buying pressure. Litecoin is now trading in an overbought market. The altcoin will trend when range-bound levels are broken.

What Is the Next Move for Litecoin

On the 4-hour chart, Litecoin is trading sideways after the rise to a halt at $130 as it drops. The altcoin is currently trading above the moving average lines but below the resistance at $140. The price bars are consolidating above the 21-day moving average line. The present trend will cease if the bears fall below the 21-day SMA. The crypto signal range is constrained as the market enters the overbought zone.

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