Coinidol.com: Litecoin Slumps but Maintains Its Hold Above $70

The price of Litecoin (LTC) has fallen below the moving average lines after being rejected at the $84.77 high.

LTC price long-term prediction: bearish

The cryptocurrency dropped to a low of $69.65 before recovering. The altcoin has retested its previous low of $68. The price has returned to a range above the $68 support and below the moving average lines, with resistance at $84.

A bullish move will begin if buyers defend the current support at $69, and the altcoin will rise towards the moving average lines. Litecoin will continue to increase if buyers overcome the $84 resistance level. On the downside, LTC price may fall but are expected to remain above the $68 support.

Technical Indicators:

• Resistance Levels – $100, $120, $140

• Support Levels – $60, $40, $20

Litecoin price indicators analysis

The LTC price has fallen below the downward-sloping moving average lines. Buyers have been unable to sustain positive momentum above the current barrier.

On the 4-hour chart, the price has dropped significantly below the downward-sloping moving average lines. The extended candlestick tails indicate substantial buying interest at the $70 level.

What is the next move for Litecoin?

Litecoin is falling below the moving average lines on the 4-hour chart. The cryptocurrency is trading above the $70 support but below the moving average lines. The altcoin's decline has stalled above the $70 support level as it corrects upwards. Buyers are likely to be attracted to the oversold area of the market.

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.