Litecoin Price Recovers And Rises Above The $70 Level

Jun 23, 2024 at 14:41 // Price
Coin Idol
The altcoin will rise and challenge the resistance level

The price of Litecoin (LTC) has returned to its previous low of $70 from June 18.

Long-term Litecoin price prediction: ranging

The previous low was the historical price level of April 13, as reported. The cryptocurrency is currently trading in a range of $70 to $89 per unit.

If the current support at $70 holds, the downward movement will start within this range. Litecoin's positive momentum will continue if buyers keep the price above the moving average lines. The altcoin will rise and challenge the resistance level at $89.

On the negative side, the previous low of $70 has not been reached since March 5. The cryptocurrency is likely to fall further if the current support is broken. Meanwhile, the altcoin is  worth $74.

Litecoin indicator analysis

On June 18, Litecoin reached the previous low of $70. The bulls bought on dips, leaving a long candlestick tail pointing to the previous low of $70. The extended candlestick tail indicates significant buying pressure at the $70 level. The price of the cryptocurrency is bouncing above the $70 support.

Technical indicators

Resistance levels: $100, $120, $140

Support levels: $60, $40, $20

LTCUSD_(Daily Chart) –une 22.jpg

What's the next move for Litecoin

After the drop on June 18, Litecoin is now trading in a limited range of $70 to $76. The price of the cryptocurrency is fluctuating, but any upward movement is prevented by the 21-day SMA and resistance at $76. The altcoin will rally if it maintains its small range.

LTCUSD_(4-hour Chart) –June 22.jpg

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 Readers should do their research before investing in funds.

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