Litecoin Is Range Bound as It Faces Stiff Resistance at $80

This current high was repelled as the coin fell to a low of $68. The bulls are still battling below the current resistance at $80. LTC will rally and reach the high of $100 if the resistances at $80 and $84 are broken. Conversely, LTC will fall to $66 low and be in a range-bound move, if the bulls fail to push the price above $80.

Litecoin Indicator Analysis 

LTC is currently at level 53 of the daily RSI which implies that the coin is in the uptrend zone. LTC will rise since it is above the centerline 50. Now, the 12-day EMA and the 26-day EMA provides support for LTC upward move.

Key Resistance levels: $80, $100, $120

Key Support levels: $50, $40, $20

What Is the Next Direction for Litecoin?

Litecoin is currently in an uptrend but battles the $80 resistance. The bulls will overcome the resistance at $80 if more buyers introduced at a higher price level. The sellers will be more in the higher price levels that is why LTC has failed to move up. 

Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.