Coinidol.com: Litecoin Slumps but Remains above $75

The price of Litecoin (LTC) is moving sideways, remaining above the $75 support but below the moving average lines.

Litecoin price long-term prediction: ranging

For the past two months, price movement has been consistent within a narrow range. Today, the cryptocurrency price is falling after being rejected at the 21-day SMA. If buyers can keep the price above the 21-day SMA and bullish momentum continues, the Litecoin will begin to rise.

However, today, buyers failed to sustain the price above the 21-day SMA. As a result, the LTC price has dropped, resuming its sideways movement below the 21-day SMA. At the time of writing, the price of LTC is $82.95.

Litecoin price indicator analysis

The 21-day and 50-day SMAs are trending downward, with the price bars below both. The 21-day SMA is below the 50-day SMA, indicating a decline. On the 4-hour chart, the price bars have fallen below the horizontal moving averages. The price action is characterised by small, indecisive candlesticks known as Dojis.

What is the next move for Litecoin?

The Litecoin price has remained above the $75 support. LTC prices are falling, reaching a low of $80. Since November 21, as Coinidol.com reported, the crypto price has reversed each time it has retested the $80 support. The Doji candlesticks have kept the cryptocurrency range-bound within its defined range.

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.