Litecoin Stabilises above the $80 Support

Litecoin (LTC) has been trading sideways above the $80 support level since October 10.

Litecoin price long-term prediction: ranging

Sellers have attempted three times to push the price below the $80 support, but the bulls have bought the dips. Buyers have twice driven the price above the moving average lines, only to be repelled. Currently, the cryptocurrency price is just above the critical $80 support.

On the downside, Litecoin will fall below $76 if it loses its current support. Subsequently, bearish momentum will likely continue towards the low of $63. The altcoin is trading at $84.18 at the time of writing.

Technical Indicators 

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  Resistance Levels: $100, $120, $140

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  Support Levels: $60, $40, $20 

Litecoin indicator analysis

Litecoin is in a horizontal trend. The price bars are below the 21-day and 50-day moving average lines. The price bars are characterised by Doji candlesticks, which delay price movements. On the 4-hour chart, the moving average lines are horizontal, while the price bars move both below and above them.

What is the next move for Litecoin?

Litecoin is trading sideways, above the $80 support and below the $88 resistance. On the 4-hour chart, the cryptocurrency price fluctuates below and above the moving averages. The price has stabilised above the $80 support level after dipping below the moving average lines. Price movement has become stagnant since the appearance of Doji candlesticks.

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.