Coinidol.com: Litecoin Fluctuates Above the $80 Low

The price of Litecoin (LTC) has been fluctuating between the $80 support level and below the moving average lines since the price decline on October 10.

Litecoin price long-term prediction: ranging

On November 21, the LTC price fell below $80 before recovering. This is the third time the cryptocurrency has tested the current support level of $80 without falling below it.

On the downside, if the bears break the current support, Litecoin will fall to $54.94, the price level from October 10. The sideways trend will continue if the current support holds, with buyers attempting to keep the price above the moving average lines. Today, Litecoin is around $81.92.

Technical Indicators 

• Resistance Levels: $100, $120, $140

• Support Levels: $60, $40, $20

Litecoin price indicator analysis

The price bars are positioned below the horizontal 21-day and 50-day moving average lines. The moving average lines indicate the ongoing sideways trend. On the 4-hour chart, the moving average lines are sloping downward. Doji candlesticks are influencing price movement.

What is the next move for Litecoin?

The price of Litecoin has risen above the lower price range, reaching $80. The cryptocurrency is oscillating above the current support level, but the upward movement has been halted by resistance at $85.

Currently, the LTC price is confined to a narrow range below the $85 high. The coin's price may continue to fluctuate within this range. Litecoin will decline if the current support level is breached.

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.