Litecoin Continues Its Sideways Movement Above $90

Litecoin (LTC) recovered above the $90 support level after the price decline on October 10.

Litecoin price long-term prediction: ranging

Following this recovery, the cryptocurrency has been trading sideways. The LTC price is now above the $80 support but below the $115 barrier.

Yesterday, buyers maintained the price above the moving average lines, reaching a high of $109.70. The upward trend was halted by resistance around $110 and the 50-day SMA.

Today, the cryptocurrency price is declining but remains between the moving average lines. On the downside, if the bears break below the 21-day SMA support, the downward trend could reach a low of $90. Litecoin is currently at $94.

Technical Indicators 

• 
  Resistance Levels: $100, $120, $140

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  Support Levels: $60, $40, $20

Litecoin price indicator analysis

The moving average lines are horizontal, while the price bars fluctuate above and below them. Today, the LTC price is above the 21-day SMA support but below the 50-day SMA barrier, indicating that the cryptocurrency is likely to continue trading sideways. On the 4-hour chart, the price bars are below the horizontal moving average lines.

What is the next move for Litecoin?

Litecoin is trading sideways, below the resistance at the $105 high but above the $92 support. The upward movement has been limited by resistance at $105. There are long candlestick wicks crossing the $105 level, indicating significant buying pressure near the recent high.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.