Litecoin (LTC) price is trading in the uptrend zone as it crossed the moving average lines. At the high of $64, the upward momentum had come to an end. Since November 8, the price has moved in this direction.
The price could not hold above the last high as buyers failed. If the barrier of $64 is overcome, Litecoin will rise to a high of $75. On the downside, Litecoin will continue to move in a band between $48 and $64, where the upside will be staved off. For a possible upside move, the cryptocurrency has pulled back above the 21-day line SMA today. If it is rejected at the recent high, Litecoin will fall into the range.
Litecoin indicator analysis
Litecoin’s 14-period relative strength index is currently at 54. The cryptocurrency is in an uptrend and could continue to rise. The price bars are currently above the moving average lines, which indicates that the price of the cryptocurrency will continue to rise. Litecoin is in an uptrend and is above the daily stochastic value of 40.
Technical indicators
Resistance Levels: $140, $180, $220
Support Levels: $100, $60, $20
What is the next move for Litecoin?
The Litecoin price is fluctuating in a sideways movement between $48 and $64. It is currently between the moving average lines on the 4-hour chart. The cryptocurrency will continue to move sideways for a few more days.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.
Source: https://coinidol.com/litecoin-64-uptrend/