Litecoin Price Analysis: LTC Coin is looking like a calm sea

• LTC price action looks very sideways until it accumulates by any giant whale.
• Ltc has taken support much time at the $141 level.
• LTC/BTC pair price is trading positive by 0.65% at 0.003182 BTC.

Litecoin is looking so calm for a many-day trading session; it seems like it is sleeping nowadays because it’s trading in a concise range and is not moving anywhere. After its all-time high, many big investors started their profit-booking; then, LTC had little upside potential For an upcoming couple of days unless it broke their concise trading range.

Today Litecoin is trading at $150, which is in the green zone by 1.10%, with the $660 million volume down by 14.49% in the last 24-hours trading session. Volume has been holding its way down for several days.

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Moving Average Convergence Divergence (MACD) has been generated the crossover in upside with that a bit buying pressure came, but it was not endorsable for long, and it became sideways.

Can Litecoin breach the $171 level?

Starting in December, LTC tested its support level. Then it tied itself in a range-bound market. Relative Strength Index (RSI) also took support at 30 levels, and then RSI has started moving upwards and following a bullish trendline. So this diversion can be considered an upcoming bullish trend.

LTC is currently testing the 20 Moving Average (MA) line, which is trading below 50 and 200 Moving Average. 50 and 200 MA can be a resistance zone for further trading sessions. It is only possible when LTC breaches 20 MA and trading upon it.

 $166.7 level is  for a short-term period, and $232.2 or $295.5 are some resistance levels for further tong term trading sessions. 141.7 is the critical level as a support for a concise term and near $105 is a crucial support for LTC

Conclusion 

Litecoin has been trading in a consolidation phase for a month, testing its support. Any bullish trend can happen when it breaches this range on the upside. It may take some time to happen.

Support level- $295

Resistance level- $104.9

Disclamer The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.