Coinidol.com: Litecoin Rises but Encounters Resistance at $84

The price of Litecoin (LTC) has moved above the 21-day SMA support, maintaining its sideways trend. The price of Litecoin (LTC) has moved above the 21-day SMA support, maintaining its sideways trend.

Litecoin price long-term prediction: ranging

Buyers have reclaimed the 21-day SMA support; however, the bullish trend needs to continue beyond the current level. The cryptocurrency is expected to approach the 50-day SMA barrier but will face resistance at $88.

Litecoin is trading above the 21-day SMA support and has reached a high of $84. If buyers overcome the $88 resistance, the altcoin will rise above the 50-day SMA or reach the $90 high. However, if Litecoin falls below the 21-day SMA, it will decline to $80.

Technical Indicators 

• Resistance Levels: $100, $120, $140

• Support Levels: $60, $40, $20 

Litecoin price indicator analysis

Litecoin has recovered, trading above the 21-day SMA support but below the 50-day SMA barrier. The 21-day and 50-day moving average lines are sloping downward. The moving average lines are horizontal, and the price bars are above them. The altcoin will rise if the price bars remain above the moving average lines.

What is the next move for Litecoin?

Litecoin's price is trading above the $80 support but below the $88 resistance level. The rise has been limited by resistance at $88. The extended candlestick wicks indicate strong selling pressure at the $88 high. However, bullish momentum has encountered an initial obstacle at the recent high.

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.