Coinidol.com: Litecoin Stalls After Rising Above $82

Litecoin (LTC) has resumed its upward trend after falling to a low of $72.

LTC price long-term prediction: bullish

The cryptocurrency rose above the moving average lines but was halted by the 50-day SMA. Since January 1, the price has remained trapped between the moving average lines. If buyers break through the 50-day SMA barrier or resistance at $82, the LTC price is expected to rise above the $88 level. The positive momentum is projected to continue, potentially reaching a high of $103.

However, if the bullish scenario does not materialise, the LTC price will remain between the moving average lines. The altcoin will retrace and remain range-bound above the 21-day SMA support. Today, Litecoin reached a high of $81.41.

Litecoin price indicators analysis

The price of LTC has moved above the 21-day SMA but remains below the 50-day SMA barrier. For the past 48 hours, the cryptocurrency has been caught between the two moving average lines. The moving average lines continue to slope downwards.

On the 4-hour chart, the price bars are positioned above the horizontal moving average lines. LTC prices will rise as long as the price bars remain above the moving average lines.

Technical Indicators

• Resistance Levels: $100, $120, $140

• Support Levels: $60, $40, $20

What is the next move for Litecoin?

The Litecoin price has resumed its upward trend, breaking above the moving average lines. Bullish momentum peaked at $82.85 before being rejected. The altcoin is now declining and may be forced to trade within a range above the moving average lines on the 4-hour chart. Currently, the fall has stalled while remaining above the moving average lines.

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.